Funds – PE Hubhttps://www.pehub.com
A Community for Professionals in Private CapitalSat, 17 Feb 2018 02:24:44 +0000en-UShourly1https://wordpress.org/?v=4.5.13https://www.pehub.com/wp-content/uploads/2016/09/cropped-PEHN-logo-32x32.jpgFunds – PE Hubhttps://www.pehub.com
3232Energy Impact raises $75 mln for inaugural credit fundhttps://www.pehub.com/2018/02/energy-impact-raises-75-mln-inaugural-credit-fund/
https://www.pehub.com/2018/02/energy-impact-raises-75-mln-inaugural-credit-fund/#respondFri, 16 Feb 2018 19:28:00 +0000https://www.pehub.com/?p=3497110Energy Impact Partners has raised $75 million for its debut credit fund, according to an SEC filing. In April 2017, the investment firm announced it formed a credit group to back energy-focused small and middle-market businesses.]]>Energy Impact Partners has raised $75 million for its debut credit fund, according to an SEC filing. In April 2017, the investment firm announced it formed a credit group to back energy-focused small and middle-market businesses.

]]>https://www.pehub.com/2018/02/energy-impact-raises-75-mln-inaugural-credit-fund/feed/0Deciens Capital targets $80 mln for 2018 fundhttps://www.pehub.com/2018/02/deciens-capital-targets-80-mln-2018-fund/
https://www.pehub.com/2018/02/deciens-capital-targets-80-mln-2018-fund/#respondFri, 16 Feb 2018 19:18:43 +0000https://www.pehub.com/?p=3497106Deciens Capital is seeking to raise $80 million for its 2018 fund, according to an SEC filing. The San Francisco-based venture firm focuses on financial tech investments.]]>Deciens Capital is seeking to raise $80 million for its 2018 fund, according to an SEC filing. The San Francisco-based venture firm focuses on financial tech investments.

]]>https://www.pehub.com/2018/02/deciens-capital-targets-80-mln-2018-fund/feed/0Golden Venture Partners raising third fundhttps://www.pehub.com/2018/02/golden-venture-partners-raising-third-fund/
https://www.pehub.com/2018/02/golden-venture-partners-raising-third-fund/#respondThu, 15 Feb 2018 20:32:06 +0000https://www.pehub.com/?p=3496945Golden Venture Partners is raising a third fund with an indefinite target amount, according to a regulatory filing. The firm is based in Toronto, Canada, and makes seed-stage investments in companies working in the mobile sector, according to its website. It is led by Matthew Golden.]]>Golden Venture Partners is raising a third fund with an indefinite target amount, according to a regulatory filing. The firm is based in Toronto, Canada, and makes seed-stage investments in companies working in the mobile sector, according to its website. It is led by Matthew Golden.

]]>https://www.pehub.com/2018/02/golden-venture-partners-raising-third-fund/feed/01315 Capital raises $300 mln for second fundhttps://www.pehub.com/2018/02/1315-capital-raises-300-mln-second-fund/
https://www.pehub.com/2018/02/1315-capital-raises-300-mln-second-fund/#respondThu, 15 Feb 2018 20:25:47 +0000https://www.pehub.com/?p=34969401315 Capital has raised $300 million for its fund, 1315 Capital II, according to a regulatory filing. The firm invests in pharmaceutical, medical technology, and healthcare service companies, according to its website. It is led by Adele Oliva, Michael Koby, and Brian Schwenk. The fund closed at its hard cap of $300 million, exceeding its $250 million target, according to a press release. The filing lists 57 investors.]]>Philadelphia-based 1315 Capital has raised $300 million for its fund, 1315 Capital II, according to a regulatory filing. The firm invests in pharmaceutical, medical technology, and healthcare service companies, according to its website. It is led by Adele Oliva, Michael Koby, and Brian Schwenk. The fund closed at its hard cap of $300 million, exceeding its $250 million target, according to a press release. The filing lists 57 investors.

]]>https://www.pehub.com/2018/02/1315-capital-raises-300-mln-second-fund/feed/0Mucker Capital targets $55 mln for fourth fundhttps://www.pehub.com/2018/02/mucker-capital-targets-55-mln-fourth-fund/
https://www.pehub.com/2018/02/mucker-capital-targets-55-mln-fourth-fund/#respondThu, 15 Feb 2018 19:41:02 +0000https://www.pehub.com/?p=3496926Mucker Capital is seeking to raise $55 million for its fourth fund, according to an SEC filing. The Santa Monica, California-based venture firm invests in internet software, services and media sectors.]]>Mucker Capital is seeking to raise $55 million for its fourth fund, according to an SEC filing. The Santa Monica, California-based venture firm invests in internet software, services and media sectors.

]]>https://www.pehub.com/2018/02/mucker-capital-targets-55-mln-fourth-fund/feed/0GFR Fund wraps up debut VR/AR/MR fund at $18.3 mlnhttps://www.pehub.com/2018/02/gfr-fund-wraps-up-debut-vrarmr-fund-at-18-3-mln/
https://www.pehub.com/2018/02/gfr-fund-wraps-up-debut-vrarmr-fund-at-18-3-mln/#respondThu, 15 Feb 2018 15:46:06 +0000https://www.pehub.com/?p=3496814GREE VR Capital has closed its first virtual reality/augmented reality/mixed reality fund at $18.3 million. Formed in April 2016, the fund will change its name to GFR Fund.
]]>GREE VR Capital has closed its first virtual reality/augmented reality/mixed reality fund at $18.3 million. Formed in April 2016, the fund will change its name to GFR Fund.

PRESS RELEASE

SAN FRANCISCO, Feb. 15, 2018 /PRNewswire/ — GREE VR Capital, LLC., investors in such popular startups as VRChat, Sliver.tv and Littlstar, today announced it has completed its first VR/AR/MR fund with a total commitment of $18.3 million. The fund was established in April 2016, and upon completion, the fund name will change to GFR Fund as it prepares for a second fund later this year.

One of the early investors in VR/AR/MR, the GFR Fund has invested in 17 early stage companies in less than two years, primarily in the North American VR/AR/MR market. Going forward, the fund is actively seeking AR and MR startup companies for investment with a particular focus on mobile AR platforms, AR Cloud, consumer AR applications, and enterprise AR, including AR glasses.

The Principals of the GFR Fund are experienced investors in frontier technologies and have decades of experience working in the Asian market. The team will continue to leverage this knowledge base to help U.S. startup companies wishing to gain traction among Japanese investors and market leaders. The name change reflects the Fund’s commitment to supporting more than just VR but frontier technology leaders across the entire AR/MR/VR market.

“GFR invested in our Series A round and has been instrumental in helping our company grow both in the U.S. and Asia,” said Tony Muravero, co-founder and CEO of Littlstar, a VR content network and one of GFR’s portfolio companies. “They brought us to Japan in 2016 and introduced us to nearly a dozen accredited investors, helped us secure Sony and others as new investors, and lined up a speaking engagement for us at the Japan VR Summit. The connections and visibility that GFR was able to bring to us has been critical in making Littlstar the success that it is and has afforded us the opportunity to expand into new markets.”

“We are committed to providing the expertise and guidance needed to help our portfolio companies interact with other investors, and drive strategic partnerships with U.S. and Asian corporations that can help them grow and succeed,” said Teppei Tsutsui, CEO and Managing Director of GREE VR Capital. “We believe that the AR market, especially mobile AR, is finally ready for consumers in 2018 with Google’s ARCore and Apple’s ARKit enabling developers to create killer contents. In addition to consumer AR, we are also interested in enterprise applications such as AR Cloud, navigation, advertising, social media, and consumer content via smartphones or AR glasses.”

About GFR Fund
The GFR Fund, formerly named GVR Fund, is an $18+M venture capital fund that works with strategic investors to give early-stage virtual reality (VR), augmented reality (AR) and mixed reality (MR) companies the opportunity to accelerate growth. The fund is managed by San Francisco-based GREE VR Capital, LLC., an affiliate of GREE, Inc., a global leader in mobile gaming industry, and is led by CEO Teppei Tsutsui. To date, the GFR Fund has invested in 17 companies, including VRChat, SPACES, Sliver.tv, Littlstar, Insidemaps, YBVR, Immersv, Experiment 7, TheWaveVR, Sturfee, InsiteVR, Streem, DottyAR, Upload and Torch3D. In addition to GREE, Colopl VR Fund, mixi, Inc., Maruhan, Yahoo Japan and Akatsuki are among Limited Partners (LPs) of the fund. For more information visit www.gfrfund.com.

]]>https://www.pehub.com/2018/02/gfr-fund-wraps-up-debut-vrarmr-fund-at-18-3-mln/feed/0Cove Fund gathers over $12 mln for second fundhttps://www.pehub.com/2018/02/cove-fund-gathers-12-mln-second-fund/
https://www.pehub.com/2018/02/cove-fund-gathers-12-mln-second-fund/#respondThu, 15 Feb 2018 15:42:43 +0000https://www.pehub.com/?p=3496812Cove Fund has raised over $12 million for its second fund. Cove Fund invests in early-stage technology and life science companies.
]]>Irvine, California-based Cove Fund has raised over $12 million for its second fund. Cove Fund invests in early-stage technology and life science companies.

PRESS RELEASE

IRVINE, Calif., Feb. 15, 2018 /PRNewswire/ — Cove Fund (www.covefund.com), a family of seed-stage venture capital funds that invest in the dynamic Southern California startup ecosystem, today announced the launch of its second fund, Cove Fund II, LLC. The second fund has completed its initial closing with over $12M in committed capital and will make its first investments in the coming months.

Cove Fund is headquartered in “The Cove”, a state-of-the-art facility on the campus of UC Irvine (UCI) and home to UCI Applied Innovation, which brings campus-based discoveries together with Southern California’s vibrant business community to support job creation and economic growth. Additionally, UCI Applied Innovation is working to cultivate an “innovation district” in the heart of Southern California, producing more startups, more scale-ups, and ultimately a world-class entrepreneurial ecosystem.

Cove Fund II is co-managed by a team of three experienced seed investors and technology executives, Mike Benvenuti, Howard Mirowitz and Paul Voois. All three have been active in Cove Fund since its inception in 2015. The fund uses a unique member engagement model in which the fund’s members (investors), most of whom are businesspeople and entrepreneurs themselves, play an active role in deal flow sourcing, due diligence, mentoring and governance of portfolio companies. This model provides the fund with a strong and diverse mix of expertise and network connections, enabling the fund to invest and engage with its portfolio companies across a broad range of industry sectors.

Cove Fund invests in early stage technology and life science companies that demonstrate the potential to address large markets with highly differentiated products and services. The fund typically leads financing rounds in the $1 to $3 million range, and has a strong syndication network of local angel investors, family offices and venture capital funds that co-invest in its deals. The fund will consider any company that is headquartered or carries out its main operations in Southern California, as well as any company affiliated with the University of California statewide system.

The $6M Cove Fund I began investing in 2015 and currently has 16 companies in its portfolio. Cove Fund II held its initial closing on Jan. 31, 2018 and is evaluating its initial investments.

“On behalf of the Cove Fund family and UCI Applied Innovation, we are thrilled to launch Cove Fund II,” said Mike Benvenuti, fund co-manager. “The support that we’ve received from the local community has exceeded all our expectations, and we are excited to start investing in the next generation of great technology companies.”

To apply for funding from Cove Fund, go to the Apply section of its website. For more information, email Julie Cranston, Executive Director, at julie.cranston@covefund.com or reach out to one of the fund co-managers on LinkedIn.

About Cove Fund
The Cove Fund is a family of seed-stage venture capital funds that provides startup funding for promising new Southern California ventures. The Fund is headquartered in “The Cove” at UC Irvine Applied Innovation, a centrally located and vibrant gathering place for entrepreneurs, innovators and investors in the Southern California startup ecosystem.

The $6M Cove Fund I began investing in 2015 and currently has 16 companies in its portfolio. Cove Fund II launched in early 2018 with over $12M in capital. The funds invest in early stage technology and life science companies in Southern California that demonstrate the potential to address large markets with highly differentiated products and services, and that can achieve significant value-creating inflection points with their seed funding.

SAN MATEO, Calif., Feb. 15, 2018 /PRNewswire/ — Bertram Capital (“Bertram”), announced the successful closing of Bertram Growth Capital III, L.P. & Bertram Growth Capital III-A, L.P. (the “Fund” or “Fund III”), with $500 million of total capital commitments from limited partners. This is the third fund for Bertram, a middle market private equity firm focused on control transactions that leverage its highly differentiated value creation strategy. The Fund closed at its target and hard cap, receiving commitments from over 30 top-tier investors, including endowments, insurance companies, multi-manager funds, consultants, public pensions, corporate pensions and family offices.

Like its two preceding funds, Fund III will continue Bertram’s demonstrated model of accelerating growth and driving operational improvements to transform under-optimized businesses into market leaders. Bertram leverages its highly differentiated in-house technology team, Bertram Labs, to drive value creation through proprietary IT initiatives in its portfolio companies. The Fund will focus on investing in companies generally with a minimum of $25 million in revenue and $5 million in EBITDA in the business services, consumer, and industrial/manufacturing sectors. The firm is led by its executive partnership team of Jeff Drazan, Kevin Yamashita, Ryan Craig, Jared Ruger, David Hellier, Ingrid Swenson and Brian Wheeler.

“Bertram greatly appreciates the support of our limited partners in the strategy we have developed over the last 12 years. We are off to a great start, having already deployed capital and co-investment in three platform investments,” said Jeff Drazan, Managing Partner at Bertram. “The successful fundraise is the result of effectively employing a differentiated investment strategy and building a cohesive, committed team. We would also like to thank Sixpoint Partners for their role in this successful fundraise.”

Bertram has made three Fund III platform investments in its focus industry sectors: Anord/Mardix (industrial), Spectrio (business services) and Trademark Global (consumer). Additionally, Bertram has already completed seven add-on acquisitions in support of these platforms.

About Bertram Capital
With over $1.3 billion in committed capital, Bertram Capital is a private equity firm targeting investments in lower middle market companies. By supplying flexible investment capital and committing a wealth of operational and strategic resources to each investment, we make it our core objective to move companies, management teams, and employees toward unlocking their full potential. Visit www.bcap.com for more information.

About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on a diversified set of services and solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, Austin and Hong Kong. For more information, please visit http://www.sixpointpartners.com/.

]]>https://www.pehub.com/2018/02/bertram-capital-rakes-500-mln-third-fund/feed/0Azure Capital Partners to raise opportunity fundhttps://www.pehub.com/2018/02/azure-capital-partners-raise-opportunity-fund/
https://www.pehub.com/2018/02/azure-capital-partners-raise-opportunity-fund/#respondWed, 14 Feb 2018 18:24:12 +0000https://www.pehub.com/?p=3496698Azure Capital Partners has set out to raise an opportunity fund, according to a filing with the SEC.]]>Azure Capital Partners has set out to raise an opportunity fund, according to a filing with the SEC.

]]>https://www.pehub.com/2018/02/azure-capital-partners-raise-opportunity-fund/feed/0Relay Investments rakes in $36.6 mln for sophomore fundhttps://www.pehub.com/2018/02/relay-investments-rakes-36-6-mln-sophomore-fund/
https://www.pehub.com/2018/02/relay-investments-rakes-36-6-mln-sophomore-fund/#respondWed, 14 Feb 2018 17:02:24 +0000https://www.pehub.com/?p=3496653Relay Investments has raised $36.6 million for its second fund, according to an SEC filing. The target is $50 million.]]>Boston-based Relay Investments has raised $36.6 million for its second fund, according to an SEC filing. The target is $50 million.

]]>https://www.pehub.com/2018/02/relay-investments-rakes-36-6-mln-sophomore-fund/feed/0Canopy Boulder collects $2 mln for 2018 accelerator fundhttps://www.pehub.com/2018/02/canopy-boulder-collects-2-mln-for-2018-accelerator-fund/
https://www.pehub.com/2018/02/canopy-boulder-collects-2-mln-for-2018-accelerator-fund/#respondWed, 14 Feb 2018 15:21:48 +0000https://www.pehub.com/?p=3496570CanopyBoulder, Canopy's business accelerator and seed-stage investment fund focused on the legal cannabis sector, has closed its oversubscribed 2018 accelerator fund at $2 million. The capital will be used to provide seed and follow-on funding to companies that join the CanopyBoulder accelerator.]]>Boulder, Colorado-based CanopyBoulder, Canopy’s business accelerator and seed-stage investment fund focused on the legal cannabis sector, has closed its oversubscribed 2018 accelerator fund at $2 million. The capital will be used to provide seed and follow-on funding to companies that join the CanopyBoulder accelerator.

Correction: The previous headline and news report of this item misspelled CanopyBoulder. They have since been corrected.

PRESS RELEASE

BOULDER, Colo., Feb. 14, 2018 /PRNewswire/ — CanopyBoulder, Canopy’s seed-stage investment fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry, is pleased to announce the launch of the Spring 2018 class. Six startups are enrolled in Canopy’s 16-week accelerator program. These businesses include a brand and influencer marketplace, a connector of cannabis industry software apps, and a blockchain technology addressing “looping” at dispensaries, among others.

In addition to the launch of its ninth cohort, Canopy oversubscribed its $2 million 2018 accelerator fund. This capital will be used to provide seed capital and follow-on funding to the companies that join the CanopyBoulder accelerator.

The CanopyBoulder program is designed to accelerate business development, refine strategy, and prepare companies to raise capital. Over 200 mentors, cannabis-focused venture firms, and key figures in the cannabis industry support the teams throughout the program. After weeks of pitch practice, business model refinement and miles logged meeting cannabis businesses, the cohort “graduates” and travels to present their businesses to an audience of investors, cannabis business professionals, media, and local community.

The six companies included in the spring 2018 cohort include:
Realm 72 – Founded by Christine Penny and Seth Shimkonis
Andia – Founded by Angel Diaz and Alberto Garcia
Catalyst Business Partners, LLC – Founded by Kirsten Knutson
Best in Grow – Founded by Andrew Duffy and Jacob Levin
KNXIT – Founded by Tom Quigley and Kevin Dugan
TreatmentX – Founded by Kevin Staunton and Susan Trapp

“CanopyBoulder is funding and nurturing the infrastructure businesses that the legal cannabis industry needs to continue on a high growth trajectory,” said Patrick Rea, co-founder and Managing Director of CanopyBoulder. “As always, we will continue to support our founders with not only financial assistance, but the invaluable resources of a thriving startup community. The cannabis industry won’t stop growing and we won’t stop pushing our startups to innovate and exceed expectations.”

On Thursday, February 15th at 6pm MT, CanopyBoulder will host a launch party for its Spring 2018 class. The event will be held at CanopyBoulder’s headquarters in Boulder and will include networking with investors, mentors, and entrepreneurs from the CanopyBoulder ecosystem and other industry professionals. Beer, wine and apps will be provided, with all attendee donations going to Marijuana Policy Project. Details and tickets can be found here.

About CanopyBoulder
Canopy’s accelerator arm, CanopyBoulder, is a business accelerator and seed-stage investment fund located in Boulder, Colorado. Since 2015, it that has launched 63 businesses and made nearly 80 investments. The firm looks for startups with great teams working on hard problems in growing industries. For more information, please visit www.canopyboulder.com.

About CanopyVentures
Canopy’s venture arm, CanopyVentures, is an investment fund supporting growth-stage companies that operate in the ancillary cannabis industry. For more information, please visit www.canopy.vc.

About The Arcview Group
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 600 accredited investors who have put more than $158 million behind over 170 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in CanopyBoulder, the first seed-stage mentor-driven business accelerator in the cannabis industry. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information, please visit www.arcviewgroup.com.

]]>https://www.pehub.com/2018/02/canopy-boulder-collects-2-mln-for-2018-accelerator-fund/feed/0Norwest raises $1.5 bln, promotes Kossow and Wuhttps://www.pehub.com/2018/02/norwest-raises-1-5-bln-promotes-kossow-wu/
https://www.pehub.com/2018/02/norwest-raises-1-5-bln-promotes-kossow-wu/#respondWed, 14 Feb 2018 12:30:35 +0000https://www.pehub.com/?p=3496538Palo Alto, California-based Norwest Venture Partners announced it raised $1.5 billion for Fund XIV, its largest fund to date. In addition, the firm announced that Jon Kossow, who heads up the growth equity team, was promoted to managing partner, and Lisa Wu was promoted to partner on the venture team.

]]>https://www.pehub.com/2018/02/norwest-raises-1-5-bln-promotes-kossow-wu/feed/0Early-stage investor Fryfly raises $19.7 mlnhttps://www.pehub.com/2018/02/early-stage-investor-fryfly-raises-19-7-mln/
https://www.pehub.com/2018/02/early-stage-investor-fryfly-raises-19-7-mln/#respondWed, 14 Feb 2018 05:00:34 +0000https://www.pehub.com/?p=3496540Fryfly Venture Partners, an early-stage investor in "data and intelligence," has raise $19.7 million toward a targeted $25 million fund, according to a regulatory filing. The commitments came from 13 investors, the filing reported. Fryfly is led by Co-Founders and General Partners Julie Allegro and Philipp Stauffer.]]>Menlo Park, California-based Fryfly Venture Partners, an early-stage investor in “data and intelligence,” has raise $19.7 million toward a targeted $25 million fund, according to a regulatory filing. The commitments came from 13 investors, the filing reported. Fryfly, led by Co-Founders and General Partners Julie Allegro and Philipp Stauffer, initially filed to raise $25 million for Allegro Venture Partners Fund II in 2015, according to a filing at the time.

]]>https://www.pehub.com/2018/02/early-stage-investor-fryfly-raises-19-7-mln/feed/0Elsewhere Partners targeting $100 mln venture fundhttps://www.pehub.com/2018/02/elsewhere-partners-targeting-100-mln-venture-fund/
https://www.pehub.com/2018/02/elsewhere-partners-targeting-100-mln-venture-fund/#respondTue, 13 Feb 2018 17:50:04 +0000https://www.pehub.com/?p=3496389Elsewhere Partners is raising a venture fund targeted at $100 million, according to a regulatory filing. The Austin, Texas, based firm launched in September 2017 and is led by Chris Pacitti and John Thornton, both veterans of Austin Ventures. The firm makes growth-stage investments in business software companies outside of traditional venture hubs, according to its website. The filing lists no investors.

At the time of its launch, the firm said it would typically make seven-figure investments in companies with at least a $4 million revenue run rate and growth of at least 40 percent, VCJ previously reported.

]]>https://www.pehub.com/2018/02/elsewhere-partners-targeting-100-mln-venture-fund/feed/0True Wealth Ventures in Austin raises $19.1 mln for women-led businesseshttps://www.pehub.com/2018/02/true-wealth-ventures-austin-raises-19-1-mln-women-led-businesses/
https://www.pehub.com/2018/02/true-wealth-ventures-austin-raises-19-1-mln-women-led-businesses/#respondTue, 13 Feb 2018 17:14:16 +0000https://www.pehub.com/?p=3496375True Wealth Ventures announced it has raised $19.1 million for its inaugural fund. The firm makes early-stage investments in women-led, sustainable consumer and consumer health tech companies in Texas and nationwide. In addition to its gender impact investment strategy, the firm said that more than 80 percent of its limited partners are women.]]>Austin, Texas-based True Wealth Ventures announced it has raised $19.1 million for its inaugural fund. The firm makes early-stage investments in women-led, sustainable consumer and consumer health tech companies in Texas and nationwide. In addition to its gender impact investment strategy, the firm said that more than 80 percent of its limited partners are women.

The firm’s initial investments include UnaliWear, a smartwatch for the senior population to guard against falls and other risks, and BrainCheck, a startup that exists as a cognitive testing platform to manage mental health.

True Wealth Ventures is led by General Partners Sara Brand and Kerry Rupp. Brand is a former corporate vice president with AMD and was previously an investment professional with Fremont Ventures. Rupp is the former CEO and general partner of DreamIt, a Philadelphia-based startup accelerator and early-stage investor

]]>https://www.pehub.com/2018/02/true-wealth-ventures-austin-raises-19-1-mln-women-led-businesses/feed/0Whitman/Peterson collects $402 mln for third fundhttps://www.pehub.com/2018/02/whitmanpeterson-collects-402-mln-third-fund/
https://www.pehub.com/2018/02/whitmanpeterson-collects-402-mln-third-fund/#respondTue, 13 Feb 2018 16:55:44 +0000https://www.pehub.com/?p=3496371Whitman/Peterson has raised $402 million for its third fund, according to an SEC filing. With offices in California and Utah, Whitman/Peterson is a real estate private equity firm.]]>Whitman/Peterson has raised $402 million for its third fund, according to an SEC filing. With offices in California and Utah, Whitman/Peterson is a real estate private equity firm.

]]>https://www.pehub.com/2018/02/whitmanpeterson-collects-402-mln-third-fund/feed/0Jerusalem Venture Partners targets $160 mln for eighth fundhttps://www.pehub.com/2018/02/jerusalem-venture-partners-targets-160-mln-eighth-fund/
https://www.pehub.com/2018/02/jerusalem-venture-partners-targets-160-mln-eighth-fund/#respondTue, 13 Feb 2018 16:50:59 +0000https://www.pehub.com/?p=3496367Jerusalem Venture Partners is seeking to raise $160 million for its eighth fund, according to an SEC filing. The Israeli venture firm invests in the enterprise software, mobile and security sectors.]]>Jerusalem Venture Partners is seeking to raise $160 million for its eighth fund, according to an SEC filing. The Israeli venture firm invests in the enterprise software, mobile and security sectors.

]]>https://www.pehub.com/2018/02/jerusalem-venture-partners-targets-160-mln-eighth-fund/feed/0Homebrew raises $90 mln for third early-stage fundhttps://www.pehub.com/2018/02/homebrew-raises-90-mln-third-early-stage-fund/
https://www.pehub.com/2018/02/homebrew-raises-90-mln-third-early-stage-fund/#respondTue, 13 Feb 2018 06:14:04 +0000https://www.pehub.com/?p=3496290Homebrew, a backer in Bond Street, Pillow and Shyp, among others, announced it has raised $90 million for its third early-stage fund. The new vehicle is 80 percent larger than the $50 million the firm raised almost exactly three years ago for its second fund. At that time, Homebrew also raised $35 million for a follow-on fund to do primarily Series B deals.]]>San Francisco-based seed investor Homebrew, a backer in Bond Street, Pillow and Shyp, among others, announced it has raised $90 million for its third early-stage fund. The new vehicle is 80 percent larger than the $50 million the firm raised almost exactly three years ago for its second fund. At that time, Homebrew also raised $35 million for a follow-on fund to do primarily Series B deals.

Update: The above post was updated to include the firm’s regulatory filing.

]]>https://www.pehub.com/2018/02/homebrew-raises-90-mln-third-early-stage-fund/feed/0Wave Capital raises $31.5 mln for maiden venture capital fundhttps://www.pehub.com/2018/02/wave-capital-raises-31-5-mln-maiden-venture-capital-fund/
https://www.pehub.com/2018/02/wave-capital-raises-31-5-mln-maiden-venture-capital-fund/#respondMon, 12 Feb 2018 18:48:44 +0000https://www.pehub.com/?p=3496168Wave Capital has raised $31.5 million toward a $35 million maiden venture capital fund, according to a filing with the SEC.]]>Wave Capital has raised $31.5 million toward a $35 million maiden venture capital fund, according to a filing with the SEC.

The fund is being managed by David Rosenthal, a former principal at Madrona Venture Group, and Riley Newman, formerly with Airbnb. Twenty-eight LPs are participating.

]]>https://www.pehub.com/2018/02/wave-capital-raises-31-5-mln-maiden-venture-capital-fund/feed/01315 Capital rakes in over $300 mln for second healthcare fundhttps://www.pehub.com/2018/02/1315-capital-rakes-300-mln-second-healthcare-fund/
https://www.pehub.com/2018/02/1315-capital-rakes-300-mln-second-healthcare-fund/#respondMon, 12 Feb 2018 15:11:58 +0000https://www.pehub.com/?p=34960501315 Capital has closed its second healthcare growth equity fund at a hard cap of over $300 million, beating its $250 million target. The limited partners of 1315 Capital II include endowment, foundation, public and private pension and family offices.
]]>Philadelphia-based 1315 Capital has closed its second healthcare growth equity fund at a hard cap of over $300 million, beating its $250 million target. The limited partners of 1315 Capital II include endowment, foundation, public and private pension and family offices.

PRESS RELEASE

PHILADELPHIA, February 12, 2018 – 1315 Capital, LLC, an expansion and growth equity firm that invests in commercial-stage specialty pharmaceutical, medical technology and healthcare services companies, today announced the single close of 1315 Capital II, a healthcare growth equity fund, at its hard cap of over $300 million, exceeding its $250 million target. Similar to the first fund, 1315 Capital II includes endowment, foundation, public and private pension, and family office limited partners.

“We appreciate the ongoing partnership with our management teams and investors as we continue to support innovation and solutions across healthcare,” said Adele Oliva, Founding Partner. 1315 Capital will invest on average $10-$30 million into existing companies, or as part of the creation of a commercial stage ‘jumpstart’. Of the eight current 1315 Capital portfolio companies, four have been ‘jumpstarts’ where 1315 Capital partnered with experienced management teams on acquiring or licensing commercial stage assets as a platform for growth.

Since closing its first fund in 2016, the 1315 Capital team has expanded, adding senior investment professionals Matthew Reber and Edward Chan to the firm. In addition, 1315 Capital Operating Partners Tim Einwechter, Rick Ferreira, Antony Koblish, John Spitznagel, Greg Stokes, and Paul Touhey will continue to work alongside the investment team and portfolio companies.

“Our Operating Team model remains a unique and powerful part of our strategy,” stated Michael Koby, Founding Partner. “The teams help to identify compelling potential portfolio investments, as well as add to the success and growth of these companies.”

The new fund brings 1315 Capital’s total assets under management to more than $500 million.

]]>https://www.pehub.com/2018/02/1315-capital-rakes-300-mln-second-healthcare-fund/feed/0Orion wraps up second mine finance fund at over $2.1 blnhttps://www.pehub.com/2018/02/orion-wraps-second-mine-finance-fund-2-1-bln/
https://www.pehub.com/2018/02/orion-wraps-second-mine-finance-fund-2-1-bln/#respondFri, 09 Feb 2018 19:40:19 +0000https://www.pehub.com/?p=3495953Orion Resource Partners (USA) has closed its second mine finance fund at over $2.1 billion. The limited partners of Orion Mine Finance Fund II LP include sovereign wealth funds, public and private pension funds, endowments and foundations, fund of funds and family offices. As in the case of its previous fund, Fund II will finance construction of later-stage mine projects. Credit Suisse Securities (USA) LLC was adviser and placement agent while Ropes & Gray LLP served as fund counsel.]]>Orion Resource Partners (USA) has closed its second mine finance fund at over $2.1 billion. The limited partners of Orion Mine Finance Fund II LP include sovereign wealth funds, public and private pension funds, endowments and foundations, fund of funds and family offices. As with the case of its previous fund, Fund II will finance construction of later-stage mine projects. Credit Suisse Securities (USA) LLC was adviser and placement agent while Ropes & Gray LLP served as fund counsel.

PRESS RELEASE

NEW YORK, Feb. 9, 2018 /PRNewswire/ — Orion Resource Partners (USA) LP (“Orion”), one of the world’s largest alternative finance providers to the metals and mining sector, today announced that it completed the final closing of Orion Mine Finance Fund II LP (together with its associated co-investment vehicle, “Fund II”). Fund II closed on over $2.1 billion of capital commitments.

Fund II is the successor fund to Orion Mine Finance Fund I and Orion Mine Finance Fund I-A (together, “Fund I”) and will continue Orion’s strategy of financing the construction of later-stage mine projects through a combination of debt, equity and production-linked investments (e.g., royalties, streams and offtakes). Limited partners in Fund II include some of the world’s largest and most sophisticated investors, including leading sovereign wealth funds, public and private pension funds, endowments and foundations, fund of funds, and family offices.

“The demand for our fund underscores the capability of our team and our differentiated strategy and we are pleased with the extraordinary level of support that we received from such a prestigious group of global investors” said Oskar Lewnowski, Chief Executive Officer & Chief Investment Officer

The closing of Fund II follows a very active year for Orion. Since the beginning of 2017, Orion has announced the exit of two large Fund I investments, including the Osisko Gold Royalties transaction in July 2017 and the SASA transaction in November 2017. To date, Fund II has completed 6 platform investments with nearly $830 million committed to investment.

]]>https://www.pehub.com/2018/02/orion-wraps-second-mine-finance-fund-2-1-bln/feed/0Moonrise Capital to raise $100 mln for China venture fundhttps://www.pehub.com/2018/02/moonrise-capital-raise-100-mln-china-venture-fund/
https://www.pehub.com/2018/02/moonrise-capital-raise-100-mln-china-venture-fund/#respondFri, 09 Feb 2018 19:33:15 +0000https://www.pehub.com/?p=3495947Moonrise Capital has set out to raise $100 million for a China-focused venture capital fund, according to a filing with the SEC.]]>Moonrise Capital has set out to raise $100 million for a China-focused venture capital fund, according to a filing with the SEC.

The fund, Moonrise China Partners, did not report a first close. The Greenwich, CT, firm is managed by Donald Pascal, formerly of Commonfund Capital.

]]>https://www.pehub.com/2018/02/moonrise-capital-raise-100-mln-china-venture-fund/feed/0Aberdeen rakes in over $268 mln for seventh U.S. PE fundhttps://www.pehub.com/2018/02/aberdeen-rakes-268-mln-seventh-u-s-pe-fund/
https://www.pehub.com/2018/02/aberdeen-rakes-268-mln-seventh-u-s-pe-fund/#respondFri, 09 Feb 2018 16:52:06 +0000https://www.pehub.com/?p=3495906Aberdeen Asset Management has raised over $268 million for its seventh U.S. private equity fund, according to an SEC filing. The target is $300 million.]]>Aberdeen Asset Management has raised over $268 million for its seventh U.S. private equity fund, according to an SEC filing. The target is $300 million.

]]>https://www.pehub.com/2018/02/aberdeen-rakes-268-mln-seventh-u-s-pe-fund/feed/0Workday establishes $250 mln corporate venture fundhttps://www.pehub.com/2018/02/workday-establishes-250-mln-corporate-venture-fund/
https://www.pehub.com/2018/02/workday-establishes-250-mln-corporate-venture-fund/#respondThu, 08 Feb 2018 23:55:42 +0000https://www.pehub.com/?p=3495857Workday said it established a $250 million corporate venture fund managed by its investment arm, Workday Ventures.]]>Workday said it established a $250 million corporate venture fund managed by its investment arm, Workday Ventures.

The fund comes as Workday moves to open up its cloud platform to a partner ecosystem. Investments will focus on early to growth stage companies with emerging technologies for the enterprise, such as artificial intelligence, machine learning, blockchain, and augmented and virtual reality.

Workday Ventures will be run by managing directors Leighanne Levensaler and Mark Peek. Levensaler is senior vice president of corporate strategy, while Peek was previously chief financial officer.

]]>https://www.pehub.com/2018/02/workday-establishes-250-mln-corporate-venture-fund/feed/0B Capital Group closes fund at $360 mlnhttps://www.pehub.com/2018/02/b-capital-group-closes-fund-at-360-mln/
https://www.pehub.com/2018/02/b-capital-group-closes-fund-at-360-mln/#respondThu, 08 Feb 2018 20:54:59 +0000https://www.pehub.com/?p=3495835B Capital Group, a venture firm focused on healthcare, fintech, industrial logistics and consumer enablement companies, has raised $360 million for its new fund. Ropes & Gray LLP provided legal counsel on the fund. B Capital Group was founded in partnership with The Boston Consulting Group.]]>B Capital Group, a venture firm focused on healthcare, fintech, industrial logistics and consumer enablement companies, has raised $360 million for its new fund. Ropes & Gray LLP provided legal counsel on the fund. B Capital Group was founded in partnership with The Boston Consulting Group.

PRESS RELEASE

LOS ANGELES–(BUSINESS WIRE)–B Capital Group, a digital technology investment firm that invests in pioneering healthcare, financial services & insurance, industrial, and consumer enablement companies, today announced that it closed B Capital Fund, L.P. at $360 million, substantially exceeding the original target. Founded with the deep-rooted belief that innovation has no borders, B Capital Group’s new fund will continue to enable the firm to invest in innovation, bringing a global-first mentality to investing and partnering with entrepreneurs.

B Capital Group is backed by partners who are both experts and innovators, and together they are reimagining venture capital and connecting emerging technology startups with global market leading corporations. Through its sponsorship from The Boston Consulting Group (BCG), B Capital Group provides the right introductions at the right time and partners with new companies to build and scale sustainable businesses. Ropes & Gray LLP provided legal counsel in connection with the fundraise.

“We continue to strive to be a launch pad for entrepreneurs across a wide range of verticals and seek to provide our portfolio companies with the necessary resources and access to some of the most important business leaders,” said Eduardo Saverin, Co-Founder & Partner at B Capital Group in Singapore. “We are committed to helping the next generation of entrepreneurs deliver transformative technology to the world and are strategically positioned to disrupt the realm of venture investing.”

“It is inspiring to be backed by investors who recognize that our combined extensive experience as entrepreneurs and business creators provides a unique and valuable perspective as to how we support and provide capital to our portfolio companies,” said Raj Ganguly, Co-Founder & Partner at B Capital Group in Los Angeles. “Our first-hand experience building and scaling enduring businesses has allowed us to bridge an important gap connecting entrepreneurs in need of resources to scale their businesses with corporations seeking to innovate and leverage emerging technologies.”

With offices in Los Angeles, San Francisco, New York and Singapore, B Capital Group is blazing a new trail to identify transformative companies and technologies around the globe that have the power to revolutionize large industries, and change people’s lives. Since the fund’s launch, B Capital has seamlessly supported a diverse set of portfolio companies including AImotive, Bright.md, Capital Match, CXA, Evidation Health, Icertis, INTURN, Lanetix, Mswipe, Ninja Van and SilverCloud Health.

“It’s exciting to see how BCG’s strategic partnership with B Capital Group continues to provide unparalleled connectivity between the world’s leading corporations and innovative start-ups seeking to transform major industries,” said Rich Lesser, President & CEO of Boston Consulting Group.

“Transitioning from advisor to Chairman and witnessing B Capital Group’s successes since the firm’s inception has been a highly rewarding experience,” said Howard Morgan, Chairman of B Capital Group. “One of the biggest complaints about venture capital firms is that they lack the proper structure and resources to connect startups with corporations. B Capital Group has flawlessly solved this problem and redefined the traditional venture capital model to connect the technology of tomorrow with the business of today.”

About B Capital Group
B Capital Group is a global venture capital firm that invests in groundbreaking healthcare, fintech, industrial logistics and consumer enablement companies that are primed to scale across the global stage. Founded in partnership with The Boston Consulting Group, B Capital Group delivers unique access to top corporations, matching cutting-edge start-ups with the world’s leading CEOs, platforms, and brands. Existing portfolio companies include AImotive, Bright.md, Capital Match, CXA, Evidation Health, Icertis, INTURN, Lanetix, Mswipe, Ninja Van and SilverCloud Health. For more information, visit http://www.bcapgroup.com/.

]]>https://www.pehub.com/2018/02/b-capital-group-closes-fund-at-360-mln/feed/0SWaN & Legend Venture Partners to raise $250 mln fourth venture fundhttps://www.pehub.com/2018/02/swan-legend-venture-partners-raise-250-mln-fourth-venture-fund/
https://www.pehub.com/2018/02/swan-legend-venture-partners-raise-250-mln-fourth-venture-fund/#respondThu, 08 Feb 2018 20:06:43 +0000https://www.pehub.com/?p=3495818SWaN & Legend Venture Partners has set out to raise a $250 million fourth venture capital fund, according to a filing with the SEC.]]>SWaN & Legend Venture Partners has set out to raise a $250 million fourth venture capital fund, according to a filing with the SEC.

The Virginia-based firm with a focus on Series A deals with tech-enable consumer brands and B2B companies is run by three managing partners, including Fredrick Schaufeld and Anthony Nader, both partners in the Washington Nationals.

]]>https://www.pehub.com/2018/02/swan-legend-venture-partners-raise-250-mln-fourth-venture-fund/feed/0RCF collects $540.5 mln for seventh fundhttps://www.pehub.com/2018/02/rcf-collects-540-5-mln-seventh-fund/
https://www.pehub.com/2018/02/rcf-collects-540-5-mln-seventh-fund/#respondThu, 08 Feb 2018 16:52:36 +0000https://www.pehub.com/?p=3495762Resource Capital Funds, a mining-focused private equity firm, has raised $540.5 million for its seventh fund, according to an SEC filing. The target is $2 billion.]]>Resource Capital Funds, a mining-focused private equity firm, has raised $540.5 million for its seventh fund, according to an SEC filing. The target is $2 billion.

]]>https://www.pehub.com/2018/02/rcf-collects-540-5-mln-seventh-fund/feed/0Danhua Capital racks up $343.2 mln for sophomore fundhttps://www.pehub.com/2018/02/danhua-capital-racks-343-2-mln-sophomore-fund/
https://www.pehub.com/2018/02/danhua-capital-racks-343-2-mln-sophomore-fund/#respondThu, 08 Feb 2018 16:49:44 +0000https://www.pehub.com/?p=3495759Danhua Capital has raised $343.2 million for its second fund, according to an SEC filing. The Palo Alto, California-based venture firm invests mostly in early-stage tech companies.]]>Danhua Capital has raised $343.2 million for its second fund, according to an SEC filing. The Palo Alto, California-based venture firm invests mostly in early-stage tech companies.

]]>https://www.pehub.com/2018/02/danhua-capital-racks-343-2-mln-sophomore-fund/feed/0BlackRock plans to raise $10 billion for equity investments: Reutershttps://www.pehub.com/2018/02/blackrock-plans-raise-10-billion-equity-investments-reuters/
https://www.pehub.com/2018/02/blackrock-plans-raise-10-billion-equity-investments-reuters/#respondThu, 08 Feb 2018 12:42:51 +0000https://www.pehub.com/?p=3495654BlackRock Inc (BLK.N) plans to raise about $10 billion as part of a new business that would take direct stakes in companies, Reuters is reporting. ]]>(Reuters) – BlackRock Inc (BLK.N) plans to raise about $10 billion as part of a new business that would take direct stakes in companies, according to a person familiar with the matter.

The move marks a new strategy for the company that manages more than $6 trillion for investors through publicly offered mutual funds and exchange-traded funds, many of which own broad swaths of the market.

A multibillion-dollar fund could put the world’s largest asset manager in more direct competition to own promising private companies with the likes of Berkshire Hathaway Inc’s (BRKa.N) Warren Buffett and private-equity firms, including Blackstone Group LP (BX.N), from which it was initially spun out.

The approach would likely be to take minority stakes in companies and hold them for a relatively long period of time, the person said.

BlackRock was not immediately available for comment. The company’s plan to raise about $10 billion was first reported by the Wall Street Journal.

BlackRock Chief Executive Larry Fink has long pushed corporate executives to adjust their behavior to focus on generating long-term value for shareholders, rather than simply meeting short-term profit targets.

The person said the new effort is being chaired by Mark Wiseman, a top executive who the company hired in 2016 from the Canada Pension Plan Investment Board. Wiseman’s first big move was to spearhead an effort to improve BlackRock’s ability to pick winning stocks in part by using technology to aid the process.

Day-to-day management of the new effort is being led by André Bourbonnais, the former chief executive officer of Canada’s Public Sector Pension Investment Board, the person said.

Edwin Poston, co-founder and general partner of TrueBridge, said, “We founded TrueBridge on the premise that venture capital is a compelling asset class for those who can invest in the handful of elite managers that drive the industry. Every day we partner with venture capitalists and entrepreneurs who are growing and changing not only the most dynamic areas of technology, but also much of the broader economy. We are proud to work with these talented venture capitalists and are equally proud to work on behalf of our limited partners, who have consistently invested with us and trusted us. Thank you for your support.”

Since its founding in 2007, TrueBridge has maintained its strategy of investing in premier, access-constrained venture capital managers primarily focused on early-stage IT companies based in northern California, as well as directly investing in some of the best-performing tech startups alongside select managers. Over the past ten years, the Firm has established a platform of complementary venture capital strategies to support its primary fund investment strategy, including raising its first direct investment fund, TrueBridge Direct Fund, and investing in both established and emerging seed and micro-VC funds.

Brian Singerman, general partner of Founders Fund said, “TrueBridge has the respect of every top venture firm because of both the caliber of their team and their commitment to the teams they back. Founders Fund could not succeed without long-term partners like TrueBridge supporting our mission.”

TrueBridge Fund V received support from new and existing limited partners, including foundations and endowments, corporate and public pension funds, family offices, and high-net-worth individuals. TrueBridge is also pleased to have received support from more than 150 venture capitalists and entrepreneurs who have personally invested across TrueBridge funds.

About TrueBridge Capital Partners
TrueBridge is a venture capital investment firm and registered investment advisor managing over $2.2 billion in institutional assets. TrueBridge invests primarily in venture and seed funds focused on early-stage IT companies in northern California, as well as directly in select, primarily mid- to late-stage technology companies alongside its managers.

TrueBridge is known as the data partner behind Forbes’ Midas List, Midas List Europe, and Next Billion Dollar Startups List and is a regular venture-focused contributor on Forbes.com (http://forbes.com/sites/truebridge/).

TrueBridge has been disciplined and consistent as it raised its first fund in 2007 with a final fund size of more than $310 million; its second fund in 2010, which closed on more than $342 million; its third fund in 2013, with $400 million in limited partner commitments; and its fourth fund in 2015, reaching $400 million in commitments. In 2017, TrueBridge closed its first direct investment fund at $125 million in commitments.

]]>https://www.pehub.com/2018/02/truebridge-capital-partners-raises-450-mln-fifth-venture-fund-funds/feed/0TLV Partners raises $152.3 mln for second venture fundhttps://www.pehub.com/2018/02/tlv-partners-raises-152-3-mln-second-venture-fund/
https://www.pehub.com/2018/02/tlv-partners-raises-152-3-mln-second-venture-fund/#respondWed, 07 Feb 2018 20:20:13 +0000https://www.pehub.com/?p=3495518TLV Partners has raised $152.3 million for a second venture capital fund, according to a filing with the SEC.]]>TLV Partners has raised $152.3 million for a second venture capital fund, according to a filing with the SEC.

The Tel Aviv-based firm closed its first fund with $110 million in 2016, an SEC filing shows. The firm is run by managing partners Eitan Bek, formerly with Pitango Venture Capital; Rona Segev, also formerly with Pitango, and Shahar Tzafrir, formerly with Magma Venture Partners.

]]>https://www.pehub.com/2018/02/tlv-partners-raises-152-3-mln-second-venture-fund/feed/0Edmond De Rothschild Investment Partners wraps up biotech and medical device fund at $430 mlnhttps://www.pehub.com/2018/02/edmond-de-rothschild-investment-partners-wraps-biotech-medical-device-fund-430-mln/
https://www.pehub.com/2018/02/edmond-de-rothschild-investment-partners-wraps-biotech-medical-device-fund-430-mln/#respondWed, 07 Feb 2018 17:35:35 +0000https://www.pehub.com/?p=3495413Edmond De Rothschild Investment Partners has closed its fifth European biotech and medical device venture fund at 345 million euros ($430 million). The fund beat its initial target of 250 million euros.
]]>Edmond De Rothschild Investment Partners has closed its fifth European biotech and medical device venture fund at 345 million euros ($430 million). The fund beat its initial target of 250 million euros.

PRESS RELEASE

BioDiscovery, a leading global investor in biotechnology and medical devices, managed by Edmond De Rothschild Investment Partners, announces today that it has closed the subscription period to its fifth fund, raising EUR 345 million (USD 430 million). BioDiscovery 5 surpassed its initial target of EUR 250 million, making it the largest life science and medical device venture fund to be raised in Europe. BioDiscovery 5 includes investments from current and new investors, with investors representing more than 60% of BioDiscovery 4 choosing to reinvest in BioDiscovery 5. Investors comprise mainly funds of funds, insurance and health insurance companies and pension funds.

With BioDiscovery 5, the Edmond De Rothschild Investment Partners team will continue its focused international investments in a balanced portfolio of innovative drug development and medical device companies across all stages of development. Through BioDiscovery 5, the team will lead investments in companies split between biotech and medical devices across Europe and the United States. The fund can invest up to 10% of the fund per company.

Over a period of 17 years, the BioDiscovery team has raised almost EUR 800 million and through BioDiscovery 1, 2, 3 and 4 funds have invested in 57 life science companies, progressively becoming a leading European investor. The team has a strong exit track record with 16 trade sales including Chase Pharmaceuticals, Tobira, Glycovaxyn, Oncoethix, Covagen, Sapiens, Endosense, Vessix Vascular and 18 IPOs including Poxel, Cellnovo, GenKyoTex, Regado, EOS imaging, SuperSonic Imaging, Probiodrug, OncoMethylome Sciences and Cellectis.

The BioDiscovery franchise is led by Partners Gilles Nobécourt, Olivier Litzka, Naveed Siddiqi and Raphaël Wisniewski. Its team of eleven professionals brings together extensive life science industry experience, and several decades of private equity and venture capital knowledge.

BioDiscovery was one of the first funds in Europe wholly dedicated to the life sciences, and remains one of the largest, pure-play funds in Europe focused on leading investment in life science companies across the development spectrum. The team brings an impressive global network, and a breadth of experience across the healthcare industry, which makes it an ideal strategic partner to innovative companies, providing both financial and scientific guidance throughout their development.

]]>https://www.pehub.com/2018/02/edmond-de-rothschild-investment-partners-wraps-biotech-medical-device-fund-430-mln/feed/0Arborview Capital targets $75 mln for second fundhttps://www.pehub.com/2018/02/arborview-capital-targets-75-mln-second-fund/
https://www.pehub.com/2018/02/arborview-capital-targets-75-mln-second-fund/#respondTue, 06 Feb 2018 16:41:21 +0000https://www.pehub.com/?p=3495111Arborview Capital Partners is seeking to raise $75 million for its sophomore fund, according to an SEC filing. Based in Chevy Chase, Maryland, the growth equity and venture capital firm invests in energy efficiency, resource efficiency and sustainability.]]>Arborview Capital Partners is seeking to raise $75 million for its sophomore fund, according to an SEC filing. Based in Chevy Chase, Maryland, the growth equity and venture capital firm invests in energy efficiency, resource efficiency and sustainability.

]]>https://www.pehub.com/2018/02/arborview-capital-targets-75-mln-second-fund/feed/0Battery Ventures racks up $1.25 bln for two fundshttps://www.pehub.com/2018/02/battery-ventures-racks-1-25-bln-two-funds/
https://www.pehub.com/2018/02/battery-ventures-racks-1-25-bln-two-funds/#respondTue, 06 Feb 2018 15:44:18 +0000https://www.pehub.com/?p=3495076Battery Ventures has closed Battery Ventures XII at $800 million and companion vehicle Battery Ventures XII Side Fund at $450 million. Together the two funds total $1.25 billion. The funds will focus on the tech sectors that include business software, enterprise-IT infrastructure, big data and artificial intelligence. In conjunction with the fundraising, Battery Ventures has promoted Morad Elhafed to general partner. Elhafed first joined Battery in 2008.
]]>Battery Ventures has closed Battery Ventures XII at $800 million and companion vehicle Battery Ventures XII Side Fund at $450 million. Together the two funds total $1.25 billion. The funds will focus on the tech sectors that include business software, enterprise-IT infrastructure, big data and artificial intelligence. In conjunction with the fundraising, Battery Ventures has promoted Morad Elhafed to general partner. Elhafed first joined Battery in 2008.

PRESS RELEASE

BOSTON, Feb. 06, 2018 — Battery Ventures, an investment firm focused on technology and innovation worldwide, has closed two new funds worth a combined $1.25 billion. They are Battery Ventures XII, an $800 million fund, and Battery Ventures XII Side Fund, a companion vehicle capitalized at $450 million to fund larger growth and private-equity investments.

Through these funds, Battery will continue its strategy of building disruptive businesses of all sizes across the technology landscape. Battery has carved out a niche by investing across all investment stages, ranging from seed- and early-stage deals to majority-ownership transactions exceeding $100 million.

Investments in the new funds will focus broadly on sectors including business software; enterprise-IT infrastructure, including cloud-computing, “big data” and artificial intelligence; consumer Internet and mobile, including media and financial technology; and industrial technology. Battery operates from five global offices and is currently expanding its operations in one of them, San Francisco. Battery opened its London office in late 2016.

In conjunction with the new funds, Battery has promoted Morad Elhafed to general partner. Elhafed, who first joined Battery in 2008, focuses on growth-stage and private-equity software investments in Europe and the U.S. A native of Morocco, he is based in the firm’s Boston office. Battery now has 10 general partners who are based across offices in Boston as well as San Francisco; Menlo Park, Ca.; and Herzliya, Israel.

Since its founding in 1983, Battery has invested in 385 companies globally, not including seed deals, resulting in 59 initial-public stock offerings and 154 mergers or acquisition events.

“The successful closing of Battery Ventures XII and Battery Ventures XII Side Fund illustrates our firm’s continuing, consistent growth through up-and-down market cycles, technology trends and new geographies over decades,” said Michael Brown, a Battery general partner. “We’re honored our limited partners have chosen to put their faith in us once again. In addition, we’re thrilled to announce Morad’s promotion, another example of how Battery promotes new leaders from within its ranks.”

Added fellow Battery General Partner Roger Lee: “We’re extremely grateful that so many talented entrepreneurs and business owners of all types continue to partner with us. These founders and executives are the backbone of our business, and we continue to learn from them.”

Rob Bernshteyn, the CEO of Battery portfolio company Coupa, an online spend-management company that went public in 2016, said: “The Battery Ventures team has been an invaluable partner to Coupa and supported our development from a cloud-software startup into an IPO-ready company and beyond. Battery’s deep knowledge of cloud software, its breadth of industry connections, and insights into constantly developing market dynamics were of immense help on our journey, each step of the way.”

For more information about Battery and its new funds, please see our related blog post and infographic here.

About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technology. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Israel and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.

]]>https://www.pehub.com/2018/02/battery-ventures-racks-1-25-bln-two-funds/feed/0Towerbrook Capital seeks $5 bln across two strategies: PE Newshttps://www.pehub.com/2018/02/towerbrook-capital-seeks-5-bln-across-two-strategies-pe-news/
https://www.pehub.com/2018/02/towerbrook-capital-seeks-5-bln-across-two-strategies-pe-news/#respondTue, 06 Feb 2018 11:57:58 +0000https://www.pehub.com/?p=3495044Towerbrook Capital Partners is looking to raise $5 billion for its latest flagship buyout fund and another vehicle that buys minority stakes, according to PE News. The firm’s main fund is targeting $4 billion, while the non-control vehicle is seeking $1 billion, the story said.]]>Towerbrook Capital Partners is looking to raise $5 billion for its latest flagship buyout fund and another vehicle that buys minority stakes, according to PE News. The firm’s main fund is targeting $4 billion, while the non-control vehicle is seeking $1 billion, the story said.

]]>https://www.pehub.com/2018/02/towerbrook-capital-seeks-5-bln-across-two-strategies-pe-news/feed/0LPs have 20 days to vote on Nordic restructuring: Private Equity Internationalhttps://www.pehub.com/2018/02/lps-20-days-vote-nordic-restructuring-private-equity-international/
https://www.pehub.com/2018/02/lps-20-days-vote-nordic-restructuring-private-equity-international/#respondTue, 06 Feb 2018 11:40:42 +0000https://www.pehub.com/?p=3495038Coller Capital and Goldman Sachs were selected as buyers of Nordic Capital’s restructuring of its 2008-vintage fund, Private Equity International is reporting. LPs now have 20 days to vote on whether the deal should proceed and if they want to sell their stake or roll their positions into a new five-year continuation fund, the story said. Coller and Goldman will pay an 11 percent premium to net asset value, PEI said.]]>Coller Capital and Goldman Sachs were selected as buyers of Nordic Capital’s restructuring of its 2008-vintage fund, Private Equity International is reporting. LPs now have 20 days to vote on whether the deal should proceed and if they want to sell their stake or roll their positions into a new five-year continuation fund, the story said. Coller and Goldman will pay an 11 percent premium to net asset value, PEI said.

]]>https://www.pehub.com/2018/02/lps-20-days-vote-nordic-restructuring-private-equity-international/feed/0GCM Grosvenor wraps up secondary fund at $700 mlnhttps://www.pehub.com/2018/02/gcm-grosvenor-wraps-secondary-fund-700-mln/
https://www.pehub.com/2018/02/gcm-grosvenor-wraps-secondary-fund-700-mln/#respondMon, 05 Feb 2018 19:45:31 +0000https://www.pehub.com/?p=3494933GCM Grosvenor has closed its latest secondary fund at $700 million. GSF II's limited partners include public and Taft-Hartley pension plans, financial institutions, healthcare systems and endowments, in the U.S., Europe and Asia. GSF II will acquire stakes in private funds via secondary deals, focusing on transactions of less than $50 million average deal size.]]>GCM Grosvenor has closed its latest secondary fund at $700 million. GSF II’s limited partners include public and Taft-Hartley pension plans, financial institutions, healthcare systems and endowments, in the U.S., Europe and Asia. GSF II will acquire stakes in private funds via secondary deals, focusing on transactions of less than $50 million average deal size.

PRESS RELEASE

CHICAGO, Feb. 5, 2018 /PRNewswire/ — GCM Grosvenor has completed the final close of its Secondary Opportunities Fund II, L.P. (“GSF II”) with $700 million in committed capital, the Chicago-based firm announced today. GSF II, which held its first close in May of 2017, reached the fund’s hard cap.

Fund investors include public and Taft-Hartley pension plans, financial institutions, healthcare systems and endowments, in the U.S., Europe and Asia.

GSF II will acquire interests in private funds through secondary market transactions, with a focus on transactions of less than $50 million average deal size. GSF II will target funds oriented toward small and middle market buyout, special situation, growth equity, infrastructure and real estate investment strategies.

GCM Grosvenor has been active in secondary transactions since 2003, with over $2 billion committed to more than 100 investments. “We are grateful for the support we received from investors,” said Brian Sullivan, Managing Director and head of the firm’s secondaries business. “They, like us, view secondaries as a means to diversify their private equity portfolio with mature, high-quality assets, while seeking to mitigate the j-curve and reduce blind pool risk. We continue to see value in the secondary market, and are confident we will identify compelling opportunities on behalf of our investors.”

About GCM Grosvenor: GCM Grosvenor is a global alternative asset management firm with approximately $50 billion of AUM in hedge fund strategies, private equity, infrastructure, real estate and multi-asset class solutions. It is one of the largest, most diversified independent alternative asset management firms worldwide.

GCM Grosvenor has offered alternative investment solutions since 1971. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong and Seoul. GCM Grosvenor serves a global client base of institutional and high net worth investors.

]]>https://www.pehub.com/2018/02/gcm-grosvenor-wraps-secondary-fund-700-mln/feed/0137 Ventures to raise $200 mln fourth venture fundhttps://www.pehub.com/2018/02/137-ventures-to-raise-200-mln-fourth-venture-fund/
https://www.pehub.com/2018/02/137-ventures-to-raise-200-mln-fourth-venture-fund/#respondMon, 05 Feb 2018 19:01:26 +0000https://www.pehub.com/?p=3494904 137 Ventures has set out to raise a $200 million fourth venture fund, according to a filing with the SEC.]]>The venture firm 137 Ventures has set out to raise a $200 million fourth venture fund, according to a filing with the SEC.

The firm is run by managing partners Justin Fishner-Wolfson, a former principal at the Founders Fund; S. Alexander Jacobson, a former EIR at the Founders Fund; Andrew Laszlo, a former managing director at Hercules Technology Growth Capital; and Elizabeth Weil, a former partner at Andreessen Horowitz.

]]>https://www.pehub.com/2018/02/137-ventures-to-raise-200-mln-fourth-venture-fund/feed/0ManchesterStory Ventures gathers $41 mln for fundhttps://www.pehub.com/2018/02/manchesterstory-ventures-gathers-41-mln-fund/
https://www.pehub.com/2018/02/manchesterstory-ventures-gathers-41-mln-fund/#respondMon, 05 Feb 2018 18:36:48 +0000https://www.pehub.com/?p=3494905ManchesterStory Venture has raised $41 million for its debut fund, according to an SEC filing. The target is $125 million. Based in West Des Moines, Iowa, ManchesterStory is a venture firm that invests in the fintech and healthcare sectors.]]>ManchesterStory Venture has raised $41 million for its debut fund, according to an SEC filing. The target is $125 million. Based in West Des Moines, Iowa, ManchesterStory is a venture firm that invests in the fintech and healthcare sectors.

]]>https://www.pehub.com/2018/02/manchesterstory-ventures-gathers-41-mln-fund/feed/0CREO collects $124 mln for fourth fundhttps://www.pehub.com/2018/02/creo-collects-124-mln-fourth-fund/
https://www.pehub.com/2018/02/creo-collects-124-mln-fourth-fund/#respondMon, 05 Feb 2018 16:31:22 +0000https://www.pehub.com/?p=3494870CREO Capital Partners has raised $124 million for its fourth fund, according to a SEC filing. Denver-based CREO invests in private food and food-related companies.]]>CREO Capital Partners has raised $124 million for its fourth fund, according to a SEC filing. Denver-based CREO invests in private food and food-related companies.

]]>https://www.pehub.com/2018/02/creo-collects-124-mln-fourth-fund/feed/0Abraaj hires KPMG to look into healthcare fund after reported row with investors: Reutershttps://www.pehub.com/2018/02/abraaj-hires-kpmg-look-healthcare-fund-reported-row-investors-reuters/
https://www.pehub.com/2018/02/abraaj-hires-kpmg-look-healthcare-fund-reported-row-investors-reuters/#respondMon, 05 Feb 2018 12:21:17 +0000https://www.pehub.com/?p=3494773Abraaj Group has hired global auditing firm KPMG to look into the finances of its healthcare fund after a reported dispute with some its investors in the fund, Reuters reported. ]]>DUBAI, Feb 4 (Reuters) – Dubai-based private equity firm Abraaj Group has hired global auditing firm KPMG to look into the finances of its healthcare fund after a reported dispute with some its investors in the fund.

“We are confident that the exercise being conducted by KPMG will confirm that all the funds were accounted for and used appropriately,” it said in a statement on Sunday.

The Wall Street Journal reported on Friday, citing unnamed sources, that four investors in a $1 billion healthcare fund managed by Abraaj had hired a forensic accountant to examine what happened to some of their money.

They wanted to know why some of their money had not yet been used for the stated purpose of building hospitals and clinics, it reported. The New York Times also reported the dispute.

The investors included the Bill & Melinda Gates Foundation, the World Bank’s International Finance Corp unit, and two other investors, who pledged about a quarter of the fund’s money.

There was no immediate response from the Gates Foundation outside its regular office hours. IFC also did not respond to a Reuters query.

Abraaj manages $13.6 billion and invests across growth markets in Africa, Asia, Latin America, the Middle East and Turkey.

In Sunday’s statement, the Dubai-based firm said recent media reports on the Abraaj Growth Markets Health Fund (AGHF) were “inaccurate and misleading.”

In 18 months, the healthcare fund has served almost 2 million people through 24 hospitals, 30 diagnostic centers and 17 clinics, it said.

“All capital that was drawn from AGHF investors was for approved Fund investments. Some capital was not used as quickly as anticipated due to unforeseen political and regulatory developments in several of the Fund’s operating markets.”

These delays were regularly communicated to investors through quarterly General Partner reports and other investor communications, Abraaj said.

“Abraaj takes its relationship with its Limited Partners, shareholders and other stakeholders very seriously,” it said.

“As such, Abraaj has engaged KPMG to verify all receipts and payments made by the Fund in accordance with the International Standard on Related Services applicable to agreed-upon procedures engagements,” it said.

The Abraaj Group said early in last 2017 it had deployed over $1.2 billion globally in 29 investments across the healthcare sector in growth markets. (Reporting by Saeed Azhar; Editing by Andrew Torchia and Toby Chopra)

]]>https://www.pehub.com/2018/02/abraaj-hires-kpmg-look-healthcare-fund-reported-row-investors-reuters/feed/0Sarkozy’s new fund raises about $400 mln: Bloomberghttps://www.pehub.com/2018/02/sarkozys-new-fund-raises-400-mln-bloomberg/
https://www.pehub.com/2018/02/sarkozys-new-fund-raises-400-mln-bloomberg/#respondMon, 05 Feb 2018 12:11:58 +0000https://www.pehub.com/?p=3494769Olivier Sarkozy has raised about $400 million for his new PE fund, Bloomberg reported Feb. 2. Sarkozy’s firm, Further Global Capital Management, is targeting $1.25 billion for its debut fund; investors have to commit a minimum of $10 million, the story said, citing an SEC filing. Sarkozy is the former head of Carlyle’s financial services group.]]>Olivier Sarkozy has raised about $400 million for his new PE fund, Bloomberg reported Feb. 2. Sarkozy’s firm, Further Global Capital Management, is targeting $1.25 billion for its debut fund; investors have to commit a minimum of $10 million, the story said, citing an SEC filing. Sarkozy is the former head of Carlyle’s financial services group.

]]>https://www.pehub.com/2018/02/sarkozys-new-fund-raises-400-mln-bloomberg/feed/0Quantum Capital Fund II raises $96.6 mlnhttps://www.pehub.com/2018/02/quantum-capital-fund-ii-raises-96-6-mln/
https://www.pehub.com/2018/02/quantum-capital-fund-ii-raises-96-6-mln/#respondMon, 05 Feb 2018 11:49:39 +0000https://www.pehub.com/?p=3494765Quantum Capital Partners said Feb. 5 that it closed its second fund at its 77.5 million euros ($96.6 million) hard cap. Quantum, of Munich, invests in challenging situations and complex carve-out opportunities in Continental Europe. The firm’s first fund raised 55 million euros in 2014. Triago advised on both funds.]]>Quantum Capital Partners said Feb. 5 that it closed its second fund at its 77.5 million euros ($96.6 million) hard cap. Quantum, of Munich, invests in challenging situations and complex carve-out opportunities in Continental Europe. The firm’s first fund raised 55 million euros in 2014. Triago advised on both funds.

PRESS RELEASE

February 5, 2018 – Quantum Capital Partners closed its second fund at its hard cap of €77.5 million, after a closed-circle fundraising. Quantum Capital Partners now operates two funds, with a total of €135 million in assets under management. Established in 2008 by banker and distressed asset investor Steffen Görig, Quantum raised its first institutional fund in late 2014, after years of exclusively investing its own capital. With additional capital and an expanded team, the Munich-based specialist firm will continue to invest in challenging situations and complex carve-out opportunities in Continental Europe. Triago advised on the fundraising for both the initial fund and the latest offer.

Since creation, Quantum has achieved top-tier performance through majority investments in Western European companies, mainly in under-managed manufacturing divisions carved out of large conglomerates. Over the years, the investment firm has staffed up, turned around and expanded a diverse range of operations purchased from Arconic, Henkel, Norsk Hydro, Robert Bosch and other high profile firms and conglomerates. Quantum invests principally in corporate divisions or subsidiaries with annual revenues between €30 million and €400 million.

“With expertise in both finance and operations, we are currently managing a portfolio of businesses with aggregate sales in excess of €1 billion,” says Quantum founder and chief executive Steffen Görig. “We love investing in complex carve-outs, spin-offs and distressed deals with plenty of potential for improvement because the financial and operational challenges associated with them mean we have significant upsides and few competent competitors. The successful close of our second fund is a flattering, and very gratifying, endorsement of our financial and operational acumen by investors. We especially appreciate that all investors from Fund I also signed up to Fund II – all expanding their commitments.”

In conjunction with the closing of Quantum Opportunity Fund II, Quantum announces a promotion as well as new hires that expand the team to 15 professionals. Tilman Richter, previously director, was promoted to managing director. Joining the firm are senior advisor for Italy and the UK, Francesco Rigamonti, previously a managing director at Deutsche Bank’s private equity operations; investment manager Sebastian Stalter, previously an investment banker at Rothschild & Co; investment manager Stephan Schuster, previously an M&A executive at Anticimex, a firm owned by Nordic private equity group EQT; and analysts Rasmus Dzwonek and Hendrik Eickmann. With current investments in Germany, France, Switzerland, Italy and Spain, the hires will help Quantum expand into additional attractive markets, particularly in the Nordics, the Benelux and the UK.

]]>https://www.pehub.com/2018/02/quantum-capital-fund-ii-raises-96-6-mln/feed/08VC to raise a $640 million second VC fundhttps://www.pehub.com/2018/02/8vc-to-raise-a-640-million-second-vc-fund/
https://www.pehub.com/2018/02/8vc-to-raise-a-640-million-second-vc-fund/#respondFri, 02 Feb 2018 19:11:09 +0000https://www.pehub.com/?p=3494700Joe Lonsdale's 8VC has set out to raise a $640 million second venture capital fund, according to a filing with the SEC.]]>Joe Lonsdale’s 8VC has set out to raise a $640 million second venture capital fund, according to a filing with the SEC.

The San Francisco firm has not reported a first close. 8VC’s initial $425 million fund is a 2015 vintage.

]]>https://www.pehub.com/2018/02/8vc-to-raise-a-640-million-second-vc-fund/feed/0NMS collects $241.4 mln for third fundhttps://www.pehub.com/2018/02/nms-collects-241-4-mln-third-fund/
https://www.pehub.com/2018/02/nms-collects-241-4-mln-third-fund/#respondFri, 02 Feb 2018 17:15:42 +0000https://www.pehub.com/?p=3494690New MainStream Capital, a lower-middle market-focused private equity firm, has raised $241.4 million for its third fund, according to an SEC filing. The target is $350 million.]]>New York City and Dallas-based based New MainStream Capital, a lower-middle market-focused private equity firm, has raised $241.4 million for its third fund, according to an SEC filing. The target is $350 million.

]]>https://www.pehub.com/2018/02/nms-collects-241-4-mln-third-fund/feed/0Science raises $75 mln for second fundhttps://www.pehub.com/2018/02/science-raises-75-mln-for-second-fund/
https://www.pehub.com/2018/02/science-raises-75-mln-for-second-fund/#respondFri, 02 Feb 2018 02:11:45 +0000https://www.pehub.com/?p=3494593Science Inc, an early investor in Dollar Shave Club, has wrapped up its second fund with $75 million in commitments, according to a regulatory filing. Twenty LPs committed to the fund, which was previously targeted at $60 million. Science, led by Mike Jones, Peter Pham, Greg Gilman and Tom Dare, has separately launched an incubator for blockchain startups.]]>Santa Monica, California-based incubator and venture firm Science Inc, an early investor in Dollar Shave Club, has wrapped up its second fund with $75 million in commitments, according to a regulatory filing. Twenty LPs committed to the fund, which was previously targeted at $60 million. Science, led by Mike Jones, Peter Pham, Greg Gilman and Tom Dare, has separately launched an incubator for blockchain startups.

]]>https://www.pehub.com/2018/02/science-raises-75-mln-for-second-fund/feed/0Further Global Capital targets $1.25 bln for fundhttps://www.pehub.com/2018/02/global-capital-targets-1-25-bln-fund/
https://www.pehub.com/2018/02/global-capital-targets-1-25-bln-fund/#respondThu, 01 Feb 2018 19:52:37 +0000https://www.pehub.com/?p=3494522Further Global Capital Management is seeking to raise $1.25 billion for its new fund, according to SEC filings. With offices in New York and Toronto, Further Global Capital is a private equity firm that invests in the financial services sector.

]]>https://www.pehub.com/2018/02/global-capital-targets-1-25-bln-fund/feed/0OurCrowd launches $50 mln fundhttps://www.pehub.com/2018/02/ourcrowd-launches-50-mln-fund/
https://www.pehub.com/2018/02/ourcrowd-launches-50-mln-fund/#respondThu, 01 Feb 2018 16:20:04 +0000https://www.pehub.com/?p=3494432OurCrowd, a global equity crowdfunding platform, has launched its 13th fund ADvantage. The $50 million fund, which was co-founded with leAD Sports, a sports tech accelerator, will invest in early-stage sports tech companies.]]>Jerusalem-based OurCrowd, a global equity crowdfunding platform, has launched its 13th fund ADvantage. The $50 million fund, which was co-founded with leAD Sports, a sports tech accelerator, will invest in early-stage sports tech companies.

PRESS RELEASE

JERUSALEM & BERLIN–(BUSINESS WIRE)–OurCrowd, the leading global equity crowdfunding platform, today announced the launch of its 13th fund, ADvantage. The new $50-million fund will be solely focused on sports tech, and was co-founded with leAD Sports, a global sports tech accelerator backed by the Adi Dassler Family Office (ADIFO).

ADvantage will initially focus on 15 early-stage sports tech ventures primed for growth, including companies providing next-gen fan engagement and experience; solutions for connected athletes and communities; and startups in the derivative sports space, including eSports, new and fantasy sports.

The fund will be co-managed by two active and veteran venture capitalists with a domain-specific sports tech expertise: OurCrowd’s Jeremy Pressman and leAD Sports’ Christoph Sonnen.

Jeremy Pressman, ADvantage Partner and Israel’s only active venture capitalist who is also a professional athlete, has been focused on sourcing and conducting due diligence on sports tech deals for over five years.

“Sports tech is a new and emerging sector with some 4000 companies worldwide and over $5B invested over the past five years,” Pressman noted. “ADvantage will build on the momentum of OurCrowd’s successful investment in Replay Technologies, which was acquired by Intel for $180m. We are excited to continue bringing emerging technologies to our over 25,000 investors and paving the way for the next generation of sports tech startups,” he concluded.

ADvantage Partner Christoph Sonnen is a serial entrepreneur and seasoned venture capitalist with vast experience in venture building and early stage investments. One of Red Bull’s founding employees, Sonnen has founded, invested, built and sold multiple business ventures over the past two decades.

“I believe that defining the future of sports tech requires new approaches, macro level overview on future trends and a solid eco-system of innovative partners,” Sonen said. “This latest announcement of a $50M investment fund together with OurCrowd, one of the world’s most prominent investment platforms, focused on ventures disrupting the Sports industry, bring us a step closer in becoming a global powerhouse for Sports entrepreneurship.”

Jeremy Pressman and Christoph Sonnen will be available for interview at the 2018 OurCrowd Global Investor Summit. For more details or to arrange an interview, email leah@ourcrowd.com.

Note to Editors –
About ADvantage: ADvantage intends to invest in early stage technology companies aimed at reshaping how we play and experience sports. Backed by leAD Sports, an initiative spearheaded by the grandchildren of Adi Dassler (founder of adidas) to further sports innovation, and OurCrowd, the leading global equity crowdfunding platform, ADvantage will leverage a strong global network to source leading opportunities in the spaces of fan engagement and experience, connected athletes and communities, and derivative sports (fantasy, eSports and new sports). Led by serial entrepreneur and accomplished venture builder Christoph Sonnen and professional athlete and venture investor Jeremy Pressman, ADvantage is targeting a diversified portfolio of 15 startups from around the world.

About OurCrowd: OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community consists of almost 25,000 accredited investors from over 112 countries. OurCrowd has raised over $650M and invested in 145 portfolio companies and funds. To join OurCrowd as an accredited investor visit www.ourcrowd.com and click “Join.”

The 2018 OurCrowd Global Investor Summit, Feb. 1, 2018, in Jerusalem, Israel, is the largest equity crowdfunding event in the world, and the largest investor event in the entire Middle East. The event will bring together Corporate partners like GE, Honda, DuPont, Samsung, and more, along with entrepreneurs, global delegations from over 50 countries, industry leaders and members of the press from all over the world. 10,000 are expected to register to attend. Learn more at summit.ourcrowd.com

About leAD: leAD – legacy of Adi Dassler – is a Berlin based sports entrepreneurship platform that helps fund and nurture remarkable sports startups.

Adi Dassler’s oldest daughter and her three sons have recently initiated commitment to leverage Adi Dassler’s legacy to create a new platform for sports technology entrepreneurship and innovation. Its founders’ legacy in sports and extensive network in the global sports industry bring together some of the most sought-after experts in the field to fund and nurture remarkable sports startups. This next-generation accelerator model with tightly aligned support for entrepreneurs and a linked fund that will capture value from the Accelerator’s leading companies will create an unprecedented ecosystem for sports technology value-creation. For more details: contact@leadsportsaccelerator.com

]]>https://www.pehub.com/2018/02/ourcrowd-launches-50-mln-fund/feed/0Platform Partners wraps up fund at $129 mlnhttps://www.pehub.com/2018/01/platform-partners-wraps-fund-129-mln/
https://www.pehub.com/2018/01/platform-partners-wraps-fund-129-mln/#respondWed, 31 Jan 2018 19:51:35 +0000https://www.pehub.com/?p=3494244Platform Partners LLC has closed its new fund at $129 million, beating its $100 million target. Platform Capital will focus on investing in equity and debt with minority ownership of lower middle-market companies in Texas and the surrounding area.]]>Houston-based Platform Partners LLC has closed its new fund at $129 million, beating its $100 million target. Platform Capital will focus on investing in equity and debt with minority ownership of lower middle-market companies in Texas and the surrounding area.

PRESS RELEASE

HOUSTON, Jan. 31, 2018 /PRNewswire/ — Platform Partners LLC (“Platform”) announces the closing of Platform Partners Capital LLC (“Platform Capital”) with total commitments of $129 million, exceeding its initial target of $100 million. Platform Capital will pursue a strategy focused on investing in senior/preferred equity and subordinated debt with minority ownership of lower middle-market companies in Texas and the surrounding region. Consistent with Platform’s investment philosophy, Platform Capital is structured as a perpetual investment company, which allows the firm to support entrepreneurs to achieve their long-term objectives.

Platform recently hired Jeremy Newsom to help lead the development of Platform Capital. Jeremy joined Platform after 17 years at Amegy Bank, where he most recently managed the Corporate Banking division.

Platform Capital is a natural extension of Platform’s experience and capabilities in the lower middle-market and will provide customized and flexible capital solutions to help business owners accomplish a variety of growth and liquidity goals. Importantly, these business owners can maintain a majority ownership position while securing the necessary capital to grow their business.

“We are excited to both close the capital raise for Platform Capital and to welcome Jeremy to our team. With Jeremy’s leadership and the expanded flexibility of Platform Capital, Platform can become a one-stop shop for regional business owners that need growth capital,” said Fred Brazelton, CEO at Platform.

“With the support of our shareholders and the addition of Jeremy, we have added the capital and expertise needed to take advantage of this attractive market opportunity in senior/preferred equity,” said Brad Morgan, President at Platform. “Platform Capital is a complimentary expansion of our capabilities and I believe strengthens Platform’s position as a leader in lower middle-market investing.”

“I am excited about the opportunity to join Platform and to partner with business owners to accomplish their objectives,” said Jeremy Newsom, Executive Vice President at Platform. “We will target initial investments between $10 and $40 million to support internal growth capital needs, strategic acquisitions or recapitalizations to provide owners with a value-add, permanent capital provider.”

About Platform Partners LLC
Platform Partners LLC is a private company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. Founded in 2006, the company manages total assets of approximately $450 million. For more information, please visit www.platformllc.com.

]]>https://www.pehub.com/2018/01/platform-partners-wraps-fund-129-mln/feed/0Hinge Capital raising fund targeted at $80 mlnhttps://www.pehub.com/2018/01/hinge-capital-raising-fund-targeted-80-mln/
https://www.pehub.com/2018/01/hinge-capital-raising-fund-targeted-80-mln/#respondWed, 31 Jan 2018 18:01:12 +0000https://www.pehub.com/?p=3494174Hinge Capital is raising a fund targeted at $80 million, according to a regulatory filing. The firm, based in Encinitas, California, is led by Ryan Swagar and Brandon Zeuner, who are both managing partners at Venture51, an early-stage venture firm based in San Diego. The filing is an amended version of a previous filing that listed the fund's targeted amount at $200 million. Hinge Capital does not appear to have a website. The filing lists no investors.]]>Hinge Capital is raising a fund targeted at $80 million, according to a regulatory filing. The firm, based in Encinitas, California, is led by Ryan Swagar and Brandon Zeuner, who are both managing partners at Venture51, an early-stage venture firm based in San Diego. The filing is an amended version of a previous filing that listed the fund’s targeted amount at $200 million. Hinge Capital does not appear to have a website. The filing lists no investors.

]]>https://www.pehub.com/2018/01/hinge-capital-raising-fund-targeted-80-mln/feed/0Ex-49er Harris Barton seeks $250 mln for fundhttps://www.pehub.com/2018/01/ex-49er-harris-barton-seeks-250-mln-fund/
https://www.pehub.com/2018/01/ex-49er-harris-barton-seeks-250-mln-fund/#respondWed, 31 Jan 2018 17:33:28 +0000https://www.pehub.com/?p=3494156H. Barton Asset Management is seeking to raise $250 million for H. Barton Venture Select III, according to a regulatory filing. The firm invests alongside other VCs in startups, such as drone company Krespy, delivery network Roadie and cloud company Instart Logic, among others. The firm is led by Founder and Managing Director Harris Barton, a former offensive lineman and a three-time Super Bowl champion with the San Francisco 49ers.]]>San Francisco-based H. Barton Asset Management is seeking to raise $250 million for H. Barton Venture Select III, according to a regulatory filing. The firm invests alongside other VCs in startups, such as drone company Krespy, delivery network Roadie and cloud company Instart Logic, among others. The firm is led by Founder and Managing Director Harris Barton, a former offensive lineman and a three-time Super Bowl champion with the San Francisco 49ers.

]]>https://www.pehub.com/2018/01/ex-49er-harris-barton-seeks-250-mln-fund/feed/0Mesa Verde Venture Partners collects over $5.4 mln for third fundhttps://www.pehub.com/2018/01/mesa-verde-venture-partners-collects-5-4-mln-third-fund/
https://www.pehub.com/2018/01/mesa-verde-venture-partners-collects-5-4-mln-third-fund/#respondWed, 31 Jan 2018 17:13:26 +0000https://www.pehub.com/?p=3494160Mesa Verde Venture Partners, an early-stage life sciences venture firm, has raised over $5.4 million for its third fund, according to an SEC listing. The target is $20 million.]]>San Diego-based Mesa Verde Venture Partners, an early-stage life sciences venture firm, has raised over $5.4 million for its third fund, according to an SEC listing. The target is $20 million.

]]>https://www.pehub.com/2018/01/mesa-verde-venture-partners-collects-5-4-mln-third-fund/feed/0Humanity United launches $23 mln venture fundhttps://www.pehub.com/2018/01/humanity-united-launches-23-mln-venture-fund/
https://www.pehub.com/2018/01/humanity-united-launches-23-mln-venture-fund/#respondWed, 31 Jan 2018 15:23:38 +0000https://www.pehub.com/?p=3494096Humanity United, a foundation that is part of The Omidyar Group, has launched a $23 million venture fund. The fund will invest in ethical supply chain innovations. In addition to Humanity United, the fund's backers include Walmart Foundation, C&A Foundation, Stardust Equity, Open Society Foundations (Soros Economic Development Fund), The Ray and Dagmar Dolby Family Fund and The Walt Disney Company.]]>Humanity United, a foundation that is part of The Omidyar Group, has launched a $23 million venture fund. The fund will invest in ethical supply chain innovations. In addition to Humanity United, the fund’s backers include Walmart Foundation, C&A Foundation, Stardust Equity, Open Society Foundations (Soros Economic Development Fund), The Ray and Dagmar Dolby Family Fund and The Walt Disney Company.

PRESS RELEASE

SAN FRANCISCO, Jan. 30, 2018 /PRNewswire-USNewswire/ — Working Capital, an early-stage venture fund, launched today with the goal of accelerating supply chain innovations to enable corporations to operate more transparently and ethically around the world. It was founded by Humanity United, a foundation that is part of The Omidyar Group, a diverse collection of organizations, each guided by its own approach, but united by a common desire to catalyze social impact.

To create this first-of-its-kind fund, Humanity United teamed up with leading brands, foundations, and impact investors that share a commitment for more responsible supply chains. Working Capital operates on a shared vision of building scalable solutions to improve labor practices in the global operations and extended supply chains of multinational corporations. In addition to Humanity United, partners and supporters in the fund include: Walmart Foundation, C&A Foundation, Stardust Equity, Open Society Foundations (Soros Economic Development Fund), The Ray and Dagmar Dolby Family Fund, and The Walt Disney Company. The unique structure of aligning with leading companies as funders helps leverage innovative solutions for sustainable impact in a way that is good for all – consumers, business, and society.

“There is a growing market demand for more transparent and responsible corporate supply chains,” said Ed Marcum, Managing Director at Working Capital. “We see an opportunity to invest in emerging solutions that will meet the demands of large multinational corporations while also benefiting millions of vulnerable workers at the bottom of the economic pyramid.”

The Fund will also leverage support from the UK’s Department for International Development in “sidecar” grant funding for pre-investment and seed-stage interventions.

Led by an experienced team from Humanity United, the Fund has already invested in promising portfolio companies, further demonstrating both the market opportunity for emerging entrepreneurs to develop more innovative solutions, and demand from leading brands to adopt these solutions. Current portfolio companies include:
Provenance, a technology platform that uses blockchain to enable brands, suppliers, and stakeholders to trace products along their journey from producer to consumer; and
Ulula, a software and data analytics platform that allows organizations to engage with workers in real time to measure and monitor labor-related risks, creating more responsible global supply chains.
Working Capital’s partners and supporters share the Fund’s commitment to reduce worker vulnerability and ensure greater transparency into working conditions.

“Our aim is to use our strengths in collaboration with others to transform the supply chain systems we rely on, and we are proud to be part of the Working Capital group of partners,” said Kathleen McLaughlin, President of the Walmart Foundation. “We believe in solutions that benefit everyone – from the workers who make the products to the consumers who purchase them, creating a shared value for business and society.”

“C&A Foundation is proud to be an anchor investor in the Working Capital Fund. This unique partnership furthers our goal to end the worst forms of labour exploitation in the apparel industry, and promote accountability through innovative solutions and collaboration with industry players,” said Brandee Butler, Head of Gender Justice & Human Rights of the C&A Foundation. “We believe that gender justice is fundamental to improve conditions for workers and support the Fund’s commitment to gender lens investing to improve outcomes for women, and economic returns for investors.”

About Working Capital
Working Capital is an early stage venture fund that invests in scalable innovations to meet the growing corporate demand for more transparent and ethical supply chains—addressing the urgent need to protect vulnerable workers and source responsibly. It was created by Humanity United, part of The Omidyar Group, a diverse collection of organizations, each guided by its own approach, but united by a common desire to catalyze social impact.

About Humanity United
Humanity United is a foundation dedicated to bringing new approaches to global problems that have long been considered intractable. We build, lead, and support efforts to change the systems that contribute to problems like human trafficking, mass atrocities, and violent conflict. HU is part of The Omidyar Group, a diverse collection of organizations, each guided by its own approach, but united by a common desire to catalyze social impact.

]]>https://www.pehub.com/2018/01/humanity-united-launches-23-mln-venture-fund/feed/0Sequoia Capital plans $8 billion global fund, eyes China investors: Reutershttps://www.pehub.com/2018/01/sequoia-capital-plans-8-billion-global-fund-eyes-china-investors-reuters/
https://www.pehub.com/2018/01/sequoia-capital-plans-8-billion-global-fund-eyes-china-investors-reuters/#respondWed, 31 Jan 2018 11:46:05 +0000https://www.pehub.com/?p=3494046Sequoia Capital, an early investor in global tech behemoths like Google Inc and Apple Inc, aims to raise up to $8 billion in its largest-ever fundraising and has set sights on Chinese investors, people familiar with the plan told Reuters.]]>HONG KONG (Reuters) – Sequoia Capital, an early investor in global tech behemoths like Google Inc and Apple Inc, aims to raise up to $8 billion in its largest-ever fundraising and has set sights on Chinese investors, people familiar with the plan told Reuters.

More cash in the bag would help the Silicon Valley venture capital giant diversify its focus from early-and growth-stage investments to pre-IPO funding rounds, at a time when startup valuations are spiking partly due to money pouring in from SoftBank Group Corp’s $93 billion Vision Fund.

“There is so much money now (in the tech sector). You need to have a bigger war chest,” said a Hong Kong-based investment banker familiar with Sequoia’s strategy.

For its new global fund, Sequoia is already trying to attract investors in China, where fund managers are looking to gain from growing sources of capital at wealth management firms, insurers and other large domestic institutional investors that aim to boost returns in alternative assets, the people said.

Sequoia’s China founding partner Neil Shen, one of the best-known venture capitalists in the country, is actively tapping potential investors including state-backed ones for the global fund, said the people, who declined to be named as the fundraising plans were confidential.

However, the size of the fund could also be lower, at $5-6 billion, cautioned one of the sources.

Sequoia declined to comment on the fundraising.

In 2016, the venture capital (VC) firm had raised $2 billion for a global growth fund, then the largest-ever raised by the firm, according to data provider Preqin.

But VC and private equity firms are now rushing to corner larger cash pools as investment cycles get drawn out, with many tech firms opting to stay privately-held for longer than usual, such as Uber Technologies, Alibaba Group Holdings’ financial affiliate Ant Financial and Airbnb Inc.

SoftBank’s tech-focused Vision Fund, the world’s largest PE fund, has aided the spike in startup valuations.
It has poured more than $9 billion into global start-ups since its inception in 2016, including a $4.9 billion
investment in office-sharing startup WeWork and $1.1 billion in Indian e-commerce platform Flipkart, Thomson Reuters data shows.

Sequoia is also tapping investors in the Middle East and Japan among other regions for its new global fund, according to one of the sources. It will continue to focus on sectors ranging from technology, healthcare and consumer to media, notably in the United States, China and India, said another source.

Sequoia’s China arm, founded in 2005 by Shen, is also raising up to 15 billion yuan ($2.37 billion) in its fifth yuan-denominated fund, the largest of its kind, to invest in local start-ups, said two other people.

Sequoia China declined to comment on Shen’s role in the latest global fund or its fifth yuan fund.

]]>https://www.pehub.com/2018/01/sequoia-capital-plans-8-billion-global-fund-eyes-china-investors-reuters/feed/0Congruent Ventures raises $37 mln toward $50 mln maiden venture fundhttps://www.pehub.com/2018/01/congruent-ventures-raises-37-mln-toward-50-mln-maiden-venture-fund/
https://www.pehub.com/2018/01/congruent-ventures-raises-37-mln-toward-50-mln-maiden-venture-fund/#respondTue, 30 Jan 2018 20:17:25 +0000https://www.pehub.com/?p=3493960Congruent Ventures has raised $37 million toward a $50 million maiden venture fund, according to a filing with the SEC.]]>Congruent Ventures has raised $37 million toward a $50 million maiden venture fund, according to a filing with the SEC.

The money came from seven LPs.

The firm is co-founded by Abe Yokell, formerly of RockPort Capital, and Joshua Posamentier, formerly of Prelude Ventures.

]]>https://www.pehub.com/2018/01/congruent-ventures-raises-37-mln-toward-50-mln-maiden-venture-fund/feed/0Polychain Ventures raising indefinite fundhttps://www.pehub.com/2018/01/polychain-ventures-raising-indefinite-fund/
https://www.pehub.com/2018/01/polychain-ventures-raising-indefinite-fund/#respondTue, 30 Jan 2018 17:32:24 +0000https://www.pehub.com/?p=3493901Polychain Ventures is raising a venture fund of indefinite size, according to a regulatory filing. The San Francisco-based firm is managed by Olaf Carlson-Wee, who manages the hedge fund Polychain Capital, which invests in blockchain technology assets. Polychain Ventures does not yet appear to have a website. The filing lists no investors. ]]>Polychain Ventures is raising a venture fund of indefinite size, according to a regulatory filing. The San Francisco-based firm is managed by Olaf Carlson-Wee, who manages the hedge fund Polychain Capital, which invests in blockchain technology assets. Polychain Ventures does not yet appear to have a website. The filing lists no investors.

]]>https://www.pehub.com/2018/01/polychain-ventures-raising-indefinite-fund/feed/0Israeli tech-focused UpWest Labs collects over $18.3 mln for third fundhttps://www.pehub.com/2018/01/israeli-tech-focused-upwest-labs-collects-18-3-mln-third-fund/
https://www.pehub.com/2018/01/israeli-tech-focused-upwest-labs-collects-18-3-mln-third-fund/#respondTue, 30 Jan 2018 17:02:05 +0000https://www.pehub.com/?p=3493883UpWest Labs has raised over $18.3 million for its third fund, according to an SEC filing. The target is $20 million. Silicon Valley-based UpWest Labs invests in Israel's tech entrepreneurs.]]>UpWest Labs has raised over $18.3 million for its third fund, according to an SEC filing. The target is $20 million. Silicon Valley-based UpWest Labs invests in Israel’s tech entrepreneurs.

]]>https://www.pehub.com/2018/01/israeli-tech-focused-upwest-labs-collects-18-3-mln-third-fund/feed/0Estonia-based Tera Ventures targets 55 mln euros for second fundhttps://www.pehub.com/2018/01/estonia-based-tera-ventures-targets-55-mln-euros-second-fund/
https://www.pehub.com/2018/01/estonia-based-tera-ventures-targets-55-mln-euros-second-fund/#respondTue, 30 Jan 2018 15:37:50 +0000https://www.pehub.com/?p=3493825Tera Ventures, an Estonian venture firm, is seeking to raise 55 million euros for its second fund. The fund will invest in about 30 seed-stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe.]]>Tera Ventures, an Estonian venture firm, is seeking to raise 55 million euros for its second fund. The fund will invest in about 30 seed-stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe.

PRESS RELEASE

TALLINN, Estonia–(BUSINESS WIRE)–Tera Ventures announces a new fund to be closed in 2018, Tera Ventures Fund II with a target size of €55 million (1st closing targeted for early this year). The majority of the capital has been committed by some of the most prolific Estonian, pan-European, and global investors. The fund will invest in about 30 seed stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe (CEE). The Tera team members have invested in early stage tech since 2009 and our relationships spread across highly lucrative regional tech hubs with untapped potential.

“We will explore new technologies and business models to support founders building the infrastructure that will deeply impact the future of our digital lives. This will complement our efforts with our current portfolio companies – we are proud to work with some of Europe’s fastest growing and most innovative startups such as; Monese, a challenger bank; Lingvist, an AI based language learning app; and Jobbatical, a platform to help techies and creatives find jobs around the world.” said Andrus Oks, Founding Partner. “We are also proud of our exceptional founders, who led the exits of GrabCad, Modesat, and Vitalfields among others. Seed-stage capital is still scarce, but our region is a global innovation powerhouse, over-populated with successful startups, scale-ups and exits. Many later-stage Tier-1, global VCs have recognised this, including those who have invested in our portfolio companies.”

Tera Ventures was established in 2016 in Tallinn, Estonia, by three Founding Partners. Andrus Oks, Stanislav Ivanov both have entrepreneurial backgrounds and have managed three early-stage funds creating over €150 million in enterprise value in nine exits to date; and, James McDougall, who has extensive operational experience as CEO and Managing Director for several early-stage, private and public companies where he has raised over €250 million for his companies from an extensive global network of investors.

Complementing the team are California-based Venture Partner, Erik Anderson, who cultivated multiple cohorts of early-stage startup teams at Techstars in London and later Wise Guys in Tallinn and Operating Partner, and Martin Hendre, who has extensive institutional equity investor and asset management company management experience. In May of 2017, Tera Ventures closed Fund I through winning the bid for re-organization of the funds already managed by team members under SmartCap; the 2008 vintage fund has currently global top quartile performance.

About Tera Ventures – Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Estonia, Scandinavia and CEE disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to – the UK, the US, and Asia. With presence in Estonia, Finland, and California, Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from seed stage to successful exit. For more information go to: www.tera.vc

]]>https://www.pehub.com/2018/01/estonia-based-tera-ventures-targets-55-mln-euros-second-fund/feed/0Playtika Growth launches, to invest up to $400 mln in Israeli companieshttps://www.pehub.com/2018/01/playtika-growth-launches-invest-400-mln-israeli-companies/
https://www.pehub.com/2018/01/playtika-growth-launches-invest-400-mln-israeli-companies/#respondMon, 29 Jan 2018 18:09:00 +0000https://www.pehub.com/?p=3493662Playtika Ltd has formed a new investment arm Playtika Growth Investments. Based in Israel, Playtika Growth plans to invest up to $400 million in Israeli digital entertainment and consumer internet companies.]]>Playtika Ltd has formed a new investment arm Playtika Growth Investments. Based in Israel, Playtika Growth plans to invest up to $400 million in Israeli digital entertainment and consumer internet companies.

PRESS RELEASE

HERZLIYA, Israel, January 29, 2018 /PRNewswire/ –Playtika Ltd. (“Playtika”) announced today the establishment of its new investment arm, Playtika Growth Investments (“Playtika Growth” or the “Company”), which plans to invest up to $400 million in Israeli digital entertainment and consumer internet businesses. Playtika Growth will target companies that are already profitable or near breakeven and have proven business models and products.

A key differentiator of Playtika Growth is its Optimization Services team. All portfolio companies will gain access to Playtika’s world-leading marketing, monetization, analytics, technology and product teams to improve company performance.

Robert Antokol, Co-Founder and CEO of Playtika, said: “For the past eight years, Playtika has gained unparalleled expertise in how to monetize and grow mobile and web products used by tens of millions of people around the world. Sharing that expertise with tomorrow’s Israeli Internet leaders will be a powerful differentiator in creating not just Israel’s, but also the world’s, next big Internet companies.”

Eric Rapps, Managing Director of Playtika Growth, said: “Playtika’s operational teams oversee hundreds of millions of dollars in marketing budgets, the processing and analysis of more than 6 terabytes of data daily, and more than a billion dollars of revenue. They have been instrumental in Playtika’s success from a 10-person startup to a global market leader with 1,700 employees across 14 offices in 10 countries. For the first time, their expertise will be made available to other companies and will help drive exceptional company performance and investment returns.”

In addition to Playtika’s operational know-how, portfolio companies will leverage Playtika’s financial and transactional expertise. Playtika has spent more than $300 million acquiring more than 10 companies since its inception and in 2016 was sold to a Chinese private equity consortium led by Giant Network Group for $4.4 billion.

“While our company DNA is notably Israeli, we have been owned by affiliates of two American private equity giants, Apollo Global Management, LLC and TPG Capital, L.P., and are today owned by affiliates of some of the most prominent Chinese institutional investors. Understanding how to manage a global business with sophisticated multinational partners is part of the skillset required for Israel to build world-leading companies and not just innovative startups; we now offer that knowledge,” said Antokol.

Playtika Growth is currently hiring an Investment Analyst and a Business Development Associate.

For more information on Playtika Growth and job openings, please visit http://www.playtikagrowth.com

]]>https://www.pehub.com/2018/01/playtika-growth-launches-invest-400-mln-israeli-companies/feed/0LRVHealth amasses $100 mln for new fundhttps://www.pehub.com/2018/01/lrvhealth-amasses-100-mln-new-fund/
https://www.pehub.com/2018/01/lrvhealth-amasses-100-mln-new-fund/#respondMon, 29 Jan 2018 17:25:31 +0000https://www.pehub.com/?p=3493656LRVHealth has raised $100 million for its new fund. Based in Boston, LRVHealth is an early- stage venture firm focused on digital health, medical devices and diagnostics.]]>LRVHealth has raised $100 million for its new fund. Based in Boston, LRVHealth is an early- stage venture firm focused on digital health, medical devices and diagnostics.

PRESS RELEASE

BOSTON–(BUSINESS WIRE)–LRVHealth (FKA Long River Ventures) today launched the premier early-stage venture platform for digital health, medical devices and diagnostics, fueled by its fourth investment fund, LRV IV. More than 20 well-known healthcare insiders and thought-leaders, eight national healthcare systems and the Innovation Institute have partnered with LRVHealth to raise and deploy $100 million in venture capital to drive this collaborative innovation platform. The LRVHealth platform is specifically designed for identifying, creating and investing in disruptive, early-stage companies across healthcare IT, healthcare technology enabled services, devices and diagnostics.

With nonprofit healthcare systems at its core, the LRVHealth partner ecosystem unites 148 hospitals and 1,882 non-acute care settings with more than 25,000 clinicians covering over 43 million Americans across 23 states. Additional healthcare systems, healthcare payers and healthcare vendors will be added as strategic limited partners over the course of 2018. These investors and partners will gain access to early stage healthcare focused investment opportunities for their stakeholders – and more importantly, have an opportunity to build, guide and benefit from the latest innovations, helping them to remain competitive in today’s highly uncertain and ever-changing healthcare landscape.

“LRVHealth has emerged as the premier early-stage healthcare venture capital firm. When the Innovation Institute began looking for a partner to launch a fund with, we evaluated several potential suitors and concluded that LRVHealth was the best fit,” said Joe Randolph, president and CEO of the Innovation Institute, a for-profit LLC owned by six non-profit health systems, operating in 20 states.

“Our intent was to be more than a passive limited partner investor, instead actively participating in the fund with a seasoned team. The Innovation Institute infrastructure will assist in vetting investment opportunities, piloting solutions and helping to grow early-stage companies. We believe the Institute’s business model – highly focused on innovation and growth – brings benefits to the LRV IV Fund that other early-stage funds don’t have. This type of for-profit and non-profit collaboration will be a major catalyst to the transformation already underway across the nation’s healthcare industry.”

A Venture Platform Founded with Deep Domain and Operational Insight
LRVHealth is an “Inside Healthcare” venture capital platform that unites experienced healthcare operators and investors with leading providers, payers, vendors and proven industry executives. The LRVHealth investment team is led by Will Cowen, Tripp Peake and Keith Figlioli, who recently joined LRVHealth after serving as senior vice president of healthcare informatics at Premier, Inc. for nearly a decade. Together, the team has more than 60 years of cumulative healthcare operating and investing experience. LRV IV is the firm’s fourth fund and builds on a 17-year track record of providing the first institutional investments in market leading companies such as GetWellNetwork, MedVentive, Phreesia, lifeIMAGE and Convergent Dental.

The providers, payers, vendors and executive advisors that have partnered with LRVHealth are both investors and active strategic partners. By bringing these industry insiders together with an ecosystem of entrepreneurs, co-investors and other resources, LRVHealth creates unique opportunities to identify and advance the best ideas and most innovative solutions to the industry’s most pressing needs.
Rounding out the LRVHealth network are the firm’s executive advisors – consisting of world-class entrepreneurs, healthcare system CEOs, policy experts and other professionals with a wide range of relevant experience and industry knowledge. Initial executive advisors include:

R. Andrew Eckert, president and CEO of Acelity, board chair at Varian Medical and board member at Becton Dickinson (BD). Eckert is also past CEO at Valence Health, CRC Health, Trizetto and Eclipsys.
Dr. Glenn Steele, chairman at xG Health Solutions and former CEO of Geisinger, and vice chairman of Health Transformation Alliance. Steele is also the former dean of the Biological Sciences Division and the Pritzker School of Medicine, and former vice president for medical affairs at the University of Chicago.

Terry Linn, former senior vice president of corporate development and strategy at Premier, Inc., chief development officer at AMI and partner at Ernst & Young.

Micky Tripathi, president and CEO of Mass eHealth Collaborative, former president and CEO of Indiana Health Information Exchange and former manager at Boston Consulting Group.

“Having been on the forefront of many innovation cycles in healthcare and helping to define new markets, it is critical for our healthcare systems to constantly test and build net new innovations within their systems and in collaboration across multiple systems,” said Dr. Glenn Steele, chairman at xG Health Solutions and former CEO of Geisinger, an integrated health services organization nationally recognized for the development and implementation of innovative care models. “LRVHealth and its partners are solely focused on driving innovation across digital health to help transform our nation’s healthcare system and improve patient outcomes and care – a mission that directly supports a key focus of my career. It’s an honor to be an advisor and help the team build great companies that can be financially successful and also empower the healthcare ecosystem to better accomplish its mission for people, patients and supporting communities.”

LRVHealth’s network of strategic investors and its operating model to engage and directly interact with them creates a unique platform for collaboration and innovation among network members. Both startups and strategic partners benefit from LRVHealth’s:

Network of Test Beds: members have the ability to see, test and/or adopt new ideas from portfolio companies or from other participants in the ecosystem.

Fellowships: investors/operators have an ability to join a portfolio company or LRVHealth for a prescribed period of time to focus on a dedicated innovation area.

Company Building: partners can work together across the LRVHealth and Innovation Institute networks to build and scale net new business that directly impacts their operations and strategy.

“The healthcare sector is traditionally known for being conservative or risk averse, but the rise of healthcare consumerism and the flood of related data is forcing us into a phase of disruption not seen in our lifetimes,” said Will Cowen, LRVHealth general partner. “Clinicians are rapidly and successfully embracing new care delivery models, administrators are adopting new perspectives on value and risk, CIOs are demanding system interoperability and data sharing, provider networks are revaluating the scope and scale of their operations and boards and CEOs across the sector are focusing on innovation as a top tier issue.”

About The Innovation Institute
The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems. This collaborative taps into physicians, employees, and industry business partners to incubate and commercialize new medical products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Institute strives to “do more, with less, for more people.” For more information, visit www.ii4change.com.

About LRVHealth
Founded in 2000, LRVHealth is the premier early stage venture platform exclusively focused on finding, investing in and building disruptive new digital health, devices and diagnostic companies. The firm consists of experienced healthcare entrepreneurs, operators and investors with deep domain expertise in almost every aspect of the healthcare system. In addition to its operating partners, LRVHealth has built an effective “inside healthcare” network that consists of a small number of highly engaged provider organizations that are both geographically and competitively diverse, and are complemented by select payers and healthcare vendors who add valuable perspective and expertise across the healthcare landscape. LRVHealth has provided the first institutional funding into dozens of successful healthcare focused startups for nearly two decades, including GetWellNetwork, Phreesia, MedVentive, lifeIMAGE and Convergent Dental. For more information please follow LRVHealth on Twitter (https://twitter.com/lrvhealth) and LinkedIn (https://www.linkedin.com/company/5036626), or visit www.lrvhealth.com.

]]>https://www.pehub.com/2018/01/lrvhealth-amasses-100-mln-new-fund/feed/0Medical Technology Venture Partners collects $24.75 mln for debut fundhttps://www.pehub.com/2018/01/medical-technology-venture-partners-collects-24-75-mln-debut-fund/
https://www.pehub.com/2018/01/medical-technology-venture-partners-collects-24-75-mln-debut-fund/#respondMon, 29 Jan 2018 16:05:37 +0000https://www.pehub.com/?p=3493626Medical Technology Venture Partners has raised $24.75 million for its first fund, according to an SEC filing. The target is $60 million.]]>San Francisco-based Medical Technology Venture Partners has raised $24.75 million for its first fund, according to an SEC filing. The target is $60 million.

]]>https://www.pehub.com/2018/01/medical-technology-venture-partners-collects-24-75-mln-debut-fund/feed/0Bonfire Ventures rakes in about $60 mln for inaugural fundhttps://www.pehub.com/2018/01/bonfire-ventures-rakes-60-mln-inaugural-fund/
https://www.pehub.com/2018/01/bonfire-ventures-rakes-60-mln-inaugural-fund/#respondMon, 29 Jan 2018 15:22:52 +0000https://www.pehub.com/?p=3493599Bonfire Ventures, a new Los Angeles-based venture capital firm, has raised about $60 million for its maiden fund, according to a blog post on its site. The firm invests in early-stage B2B software startups.]]>Bonfire Ventures, a new Los Angeles-based venture capital firm, has raised about $60 million for its maiden fund, according to a blog post on its site. The firm invests in early-stage B2B software startups.

]]>https://www.pehub.com/2018/01/bonfire-ventures-rakes-60-mln-inaugural-fund/feed/0Blue Point Capital Fund IV raises $700 mlnhttps://www.pehub.com/2018/01/blue-point-capital-fund-iv-raises-700-mln/
https://www.pehub.com/2018/01/blue-point-capital-fund-iv-raises-700-mln/#respondMon, 29 Jan 2018 12:11:06 +0000https://www.pehub.com/?p=3493529Blue Point Capital Partners LLC has raised $700 million with its most recent fund, surpassing the pool’s $600 million target. Blue Point Capital Partners IV LP will invest in lower middle-market companies that are in the manufacturing, business services, consumer and distribution sectors. Sixpoint Partners acted as placement agent while Kirkland & Ellis provided legal counsel in connection with Fund IV.]]>Blue Point Capital Partners LLC has raised $700 million with its most recent fund, surpassing the pool’s $600 million target. Blue Point Capital Partners IV LP will invest in lower middle-market companies that are in the manufacturing, business services, consumer and distribution sectors. Sixpoint Partners acted as placement agent while Kirkland & Ellis provided legal counsel in connection with Fund IV.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Sixpoint Partners, a leading global investment bank serving the middle market, announced the successful closing of Blue Point Capital Partners IV, L.P. (“Fund” or “Fund IV”), with $700 million of capital commitments. The Fund, which is the fourth investment vehicle for Blue Point Capital Partners, LLC (“Blue Point”), today closed at its hard cap and well in excess of its $600 million target after only three months of marketing. The Fund received commitments from a number of top-tier investors, including endowments, insurance companies, multi-manager funds, consultants, public pensions, corporate pensions and family offices.

Fund IV will continue the strategy of its predecessor fund, Blue Point Capital Partners III, L.P., which closed at its hard cap of $425 million of capital commitments in 2013. The Fund’s core investment strategy, which Blue Point has executed since 1990, involves sourcing and making control investments in lower middle-market companies that are in the manufacturing, business services, consumer and value-added distribution sectors. Blue Point’s target businesses are located primarily in the Midwest, Southeast and West Coast and generate between approximately $20 million and $200 million in revenue and approximately $5 million and $25 million in EBITDA. Blue Point has a long history of working closely with entrepreneurs and managers to grow their businesses by leveraging its unique capabilities and experience as a value-added partner. The firm is led by its partners, Charles “Chip” Chaikin, John LeMay, Julianne “Juli” Marley, Mark Morris and Sean Ward.
“We are grateful for the continued confidence and loyalty of our existing investors and remain focused on deepening the successful, long-term partnership we have with them in addition to welcoming new LPs to the Fund,” said Chip Chaikin, Partner at Blue Point. “We look forward to executing Blue Point’s proven strategy of utilizing our effective operating resources to help strong management teams achieve even greater success.”
John LeMay, Partner at Blue Point, added, “Our LP base includes a prominent and diversified group of investors, many of whom have invested with us for multiple funds, who are fully aligned with our vision.”
“By engaging with its existing and prospective LPs between fundraises, Blue Point adeptly kept investors apprised of its impressive track record and internal developments. This commitment to maintain a constant dialogue with LPs, along with the talented management team, helped to rapidly drive demand for Fund IV,” said Larry Smith, Partner at Sixpoint Partners.
“With over $1.4 billion in demand, Fund IV is an excellent example of how to cultivate a fundraise in advance, and we expect this oversubscribed fund to generate the strong returns the market has come to expect from the Blue Point team,” said Eric Zoller, Partner at Sixpoint Partners.
Kirkland & Ellis provided legal counsel in connection with Fund IV.
About Blue Point Capital Partners Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization. The Blue Point partner group has a 19-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $200 million in revenue.
About Sixpoint Partners Sixpoint Partners is a leading global investment bank focused on a diversified set of services and solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, Austin and Hong Kong. For more information, please visit http://www.sixpointpartners.com/.
Sixpoint Partners, LLC, is a registered broker/dealer, member FINRA (http://www.finra.org) and SIPC (http://www.sipc.org). Sixpoint Partners Asia Limited is licensed by the Securities and Futures Commission (http://www.sfc.hk).

]]>https://www.pehub.com/2018/01/blue-point-capital-fund-iv-raises-700-mln/feed/0Investcorp consider blind-pool fund model: PEIhttps://www.pehub.com/2018/01/investcorp-consider-blind-pool-fund-model-pei/
https://www.pehub.com/2018/01/investcorp-consider-blind-pool-fund-model-pei/#respondMon, 29 Jan 2018 12:00:22 +0000https://www.pehub.com/?p=3493525Investcorp is considering a blind-pool funds model alongside its deal-by-deal model, Private Equity International is reporting. Hazem Ben-Gacem, Investcorp's head of European private equity, said the firm may explore dedicated fund vehicles in the “medium term,” the story said. The investment firm is currently in the market with a tech fund, Investcorp Technology Partners IV, which held a first close on $220 million last year, PEI said.]]>Investcorp is considering a blind-pool funds model alongside its deal-by-deal model, Private Equity International is reporting. Hazem Ben-Gacem, Investcorp’s head of European private equity, said the firm may explore dedicated fund vehicles in the “medium term,” the story said. The investment firm is currently in the market with a tech fund, Investcorp Technology Partners IV, which held a first close on $220 million last year, PEI said.

]]>https://www.pehub.com/2018/01/investcorp-consider-blind-pool-fund-model-pei/feed/0HV Holtzbrinck Ventures wraps up seventh fundhttps://www.pehub.com/2018/01/hv-holtzbrinck-ventures-wraps-seventh-fund/
https://www.pehub.com/2018/01/hv-holtzbrinck-ventures-wraps-seventh-fund/#respondFri, 26 Jan 2018 17:09:19 +0000https://www.pehub.com/?p=3493433HV Holtzbrinck Ventures, a German early-stage and growth investor, has closed its oversubscribed seventh fund at 306 million euros (about $380 million). The fund will invest in businesses in the internet and technology sectors.]]>HV Holtzbrinck Ventures, a German early-stage and growth investor, has closed its oversubscribed seventh fund at 306 million euros (about $380 million). The fund will invest in businesses in the internet and technology sectors.

PRESS RELEASE

Berlin/Munich January 22, 2018. HV Holtzbrinck Ventures has closed the largest fund since the venture capital firm’s launch. Heavily oversubscribed, the fund quickly raised €306 million in a first and final closing. With the closing of the seventh fund, funds managed by HV Holtzbrinck Ventures surpassed €1 billion assets under management, making it the leader among German venture capital firms. The previous, sixth fund launched in 2015 totaled €285 million.

Underscoring confidence in the investment strategy, the international investor base in the seventh fund consists almost entirely of existing investors. The aim had been to close a fund at the same size as its predecessor in order to continue pursuing the established strategy.

“We are delighted with the overwhelming confidence in our strategy shown by our existing and new investors as well as with closing our seventh fund in record time,” said Rainer Maerkle, General Partner at HV Holtzbrinck Ventures. “The fresh capital allows to continue supporting future champions in the internet and technology sectors. The focus here is on Internet, mobile, software, health, finance and digital media solutions in both the B2B and the B2C segments.”

Through the new fund, HV Holtzbrinck Ventures will continue to make early investments in young businesses at seed and series A stages. The lion’s share of the fund will then – as with the previous HV Holtzbrinck Ventures funds – go into follow-on investments and selected growth investments at later stages. First-round investments are between €500,000 and €5 million, while follow-on and growth investments can reach amounts of up to €40 million. Investments of this magnitude put HV Holtzbrinck Ventures in an exceptional position among European venture capital firms.

HV Holtzbrinck Ventures additionally plans to support more startups’ business development at even earlier stages going forward via a new seed program. “The fund will now also finance young businesses in a simplified investment process with amounts significantly below €500,000. That provides greater flexibility for founders at the startup stage,” Maerkle said.

With offices in Munich and Berlin, the HV Holtzbrinck Ventures Adviser team has longstanding experience and wide-ranging operating expertise as founders and executives.

In Barbod Namini and Jan Miczaika, the firm has named two new partners who represent precisely that combination. “These two outstanding individuals are an ideal addition to our partner team. In his five years at HV Holtzbrinck Ventures, Barbod has consistently shown that he is an excellent investment manager. Jan joined us in summer and we know his first-rate management capabilities from his time as COO at Wooga. We very much look forward to working successfully with Barbod and Jan as partners,” said Maerkle.
# # #
About HV Holtzbrinck Ventures
Due to its funds, HV Holtzbrinck Ventures is one of the most successful, experienced and well-financed early stage and growth investors in Europe. HV Holtzbrinck Ventures has been investing in internet and technology companies for more than 17 years across several fund generations. HV Holtzbrinck Ventures’ funds have financed over 160 companies, such as the leading European fashion online market place Zalando, food delivery service Delivery Hero, mobility provider FlixBus and the digital investment service Scalable Capital. Its funds have currently about € 1.05 billion assets under management. HV Holtzbrinck Ventures supports startups with investments from € 500,000 to € 40m. Hence, it is one of the few venture capital firms in Germany, which is able to support companies through all investment stages.

]]>https://www.pehub.com/2018/01/hv-holtzbrinck-ventures-wraps-seventh-fund/feed/0Engeström, Fake form Yes VC and target fund up to $50 mlnhttps://www.pehub.com/2018/01/engestrom-fake-form-yes-vc-and-target-fund-up-to-50-mln/
https://www.pehub.com/2018/01/engestrom-fake-form-yes-vc-and-target-fund-up-to-50-mln/#respondThu, 25 Jan 2018 19:31:36 +0000https://www.pehub.com/?p=3493258Jyri Engeström and Caterina Fake have come together to form Yes VC and raise a seed and pre-seed fund of up to $50 million.]]>Jyri Engeström and Caterina Fake have come together to form Yes VC and raise a seed and pre-seed fund of up to $50 million.

In a blog post, the pair said it already has some LPs and is seeking more. The fund will invest in about 20 to 30 companies over several years and roll in previous investments in Orchid, Spell and Gaze.

Engestrom was previously an entrepreneur in residence at True Ventures and Fake, a founding partner at Founder Collective.

]]>https://www.pehub.com/2018/01/engestrom-fake-form-yes-vc-and-target-fund-up-to-50-mln/feed/0Silversmith wraps up sophomore fund at $670 mlnhttps://www.pehub.com/2018/01/silversmith-wraps-sophomore-fund-670-mln/
https://www.pehub.com/2018/01/silversmith-wraps-sophomore-fund-670-mln/#respondThu, 25 Jan 2018 17:52:49 +0000https://www.pehub.com/?p=3493211Silversmith Capital Partners has closed its oversubscribed second fund at a hard cap of $670 million. Silversmith Capital Partners II LP will focus on growth companies in two sectors: software-as-a-service and information services and health information technology and services. The fund's limited partners include endowments, foundations, fund of funds and pension funds. Monument Group was the placement agent while Proskauer Rose LLP provided fund formation counsel.]]>Silversmith Capital Partners has closed its oversubscribed second fund at a hard cap of $670 million. Silversmith Capital Partners II LP will focus on growth companies in two sectors: software-as-a-service and information services and health information technology and services. The fund’s limited partners include endowments, foundations, fund of funds and pension funds. Monument Group was the placement agent while Proskauer Rose LLP provided fund formation counsel.

PRESS RELEASE

BOSTON, January 25, 2018 – After approximately three months in the market, Silversmith Capital Partners (“Silversmith”) announced today the first and final closing of its second fund, Silversmith Capital Partners II, L.P. (“Fund II”) at its target and hard cap of $670 million of commitments. The fund was significantly oversubscribed. Consistent with the strategy of its predecessor fund, Fund II will focus on growth companies in two core industry verticals: Software-as-a-Service & Information Services; and Healthcare Information Technology & Services.

Silversmith received strong support from its existing investor base of leading endowments, foundations, fund of funds, and pension funds, while also adding a small number of new investors. In addition, more than 25 CEOs, founders, and industry executives invested in the fund.

“We are grateful for the continued support of our existing limited partners and are excited to add a select group of endowments and foundations,” said Jim Quagliaroli, Managing Partner of Silversmith. “We look forward to continuing our long track record of supporting founder-led growth businesses across our core areas of expertise.”

Prior to founding Silversmith, Jeff Crisan, Todd MacLean, Jim Quagliaroli and Lori Whelan had a broad base of relevant experience at established investment platforms, including over 45 years of collective growth equity experience. Since its founding in 2015, the firm has grown to a team of 13 investment professionals in addition to four senior industry advisors. Silversmith closed its first fund of $460 million in August 2015.

Monument Group served as the exclusive placement agent and Proskauer Rose LLP provided fund formation counsel.

About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact Radius, LifeStance Health, Nordic Consulting Partners, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com.

About Monument Group
Monument Group is a leading, independent private fund placement agent managed by a senior team with significant buy‐side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise 84 funds, totaling $93 billion of equity. These clients represent a broad variety of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure and real estate. Monument Group has offices in Boston, London, Tokyo and Hong Kong. For more information, visit www.monumentgroup.com.

Monument Group, Inc., is a member of the Financial Industry Regulatory Authority (FINRA); Monument Group Europe LLP is authorized and regulated by the Financial Conduct Authority; Monument Group, L.P. is licensed as a Type II Financial Instruments Dealer in Japan; Monument Group (HK) Limited is licensed to conduct Type 1 regulated activities in Hong Kong.

About Proskauer Rose LLP
Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising asset managers, investment funds and their advisers, financial institutions and institutional investors across the asset class. The cross border team of over 130 lawyers is based in the U.S., UK, Asia and Latin America and includes specialists in tax, ERISA, regulation, financial services, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers. Robin Painter and Matthew McBride led the engagement from Proskauer.

Mill Valley, CA – Vopne Capital, LLC, a private equity firm focused exclusively on lower-middle-market manufacturing and industrial businesses, raised $81 million for its second private equity fund, Vopne Fund II, exceeding its $70 million target. Investors include pension plans, family offices, fund of funds and high-net-worth individuals. Vopne did not use a placement agent for Fund II.

Fund II will continue the successful investment strategy that Vopne has employed since its inception: control buyouts, recapitalizations and growth equity investments in niche manufacturing and industrial businesses in the U.S. and Canada with EBITDA of $2 million to $6 million. Vopne plans to invest the new fund in a limited number of companies where it can concentrate its time and operating resources. Vopne targets equity investments of $5 million to $25 million per platform investment.

“We are pleased by the reception Fund II received from a highly-respected group of investors,” said Jim Bloom, founder and Managing Partner of Vopne. “Fund II enables Vopne to continue our strategy of investing in high-quality companies with engineered, differentiated products that benefit from our hands-on operating experience. We will continue to deliver outstanding returns to our investors by working with management teams to deliver top-line growth, operational excellence and bottom-line performance. Our vision for building companies the right way—by investing in growth and focusing on product quality, rather than financial engineering—is shared by our investors. We are grateful for the support of our limited partners and thank them for their commitment to Vopne.”

About Vopne Capital, LLC Vopne Capital, LLC is a San Francisco Bay Area-based private equity firm focused exclusively on control equity investments in niche manufacturers in the U.S. and Canada with $2 million to $6 million of EBITDA. Vopne undertakes buyouts, recapitalizations, and growth equity investments of companies with engineered, differentiated products and a dedication to product quality and customer service. Vopne invests up to $30 million of equity per platform investment. For additional information on Vopne, please visit www.vopne.com.

]]>https://www.pehub.com/2018/01/vopne-capital-raises-81-mln-second-fund/feed/0Sentinel Capital sixth PE fund raises $2.15 blnhttps://www.pehub.com/2018/01/sentinel-capital-sixth-pe-fund-raises-2-15-bln/
https://www.pehub.com/2018/01/sentinel-capital-sixth-pe-fund-raises-2-15-bln/#respondThu, 25 Jan 2018 12:28:49 +0000https://www.pehub.com/?p=3493105Sentinel Capital Partners said Jan. 25 that its sixth flagship has closed on $2.15 billion, while its first junior capital fund totaled $460 million. Total capital raised for the two new funds was $2.6 billion. Sentinel invests in lower middle market companies in sectors such as aerospace/defense, business services, consumer, distribution, food/restaurants, franchising, healthcare, and industrials. The junior capital fund will serve as a mezzanine financing source for new Sentinel platform companies.]]>Sentinel Capital Partners said Jan. 25 that its sixth flagship has closed on $2.15 billion, while its first junior capital fund totaled $460 million. Total capital raised for the two new funds was $2.6 billion. Sentinel invests in lower middle market companies in sectors such as aerospace/defense, business services, consumer, distribution, food/restaurants, franchising, healthcare, and industrials. The junior capital fund will serve as a mezzanine financing source for new Sentinel platform companies.

PRESS RELEASE

NEW YORK, January 25, 2018 – Sentinel Capital Partners, a private equity firm that invests in promising lower middle market companies, today announced the simultaneous first and final closings of Sentinel Capital Partners VI, L.P. at $2.15 billion and Sentinel Junior Capital I, L.P. at $460 million. Total capital raised for the two new funds was $2.6 billion.
“We are delighted by this fundraising outcome and grateful for the strong show of support from our existing investors and several new prominent investors,” said David S. Lobel, founder and Managing Partner of Sentinel. “We are also very pleased to launch our inaugural junior capital fund, which will serve the financing needs of our lower middle market companies.”
Sentinel will continue the same investment strategy it has employed and refined in previous funds—partnering with talented management teams to acquire companies with up to $65 million in EBITDA and solid business fundamentals, in industries where Sentinel has significant experience. For its platform acquisitions, Sentinel will continue to pursue small tuck-in and transformational, like-sized add-on acquisitions as an important dimension of its investment strategy. The junior capital fund will primarily serve as a mezzanine financing source for new Sentinel platform companies.
“Over the course of five private equity funds and 22 years, Sentinel has developed a consistent and reliable way of doing business that has proven appealing to corporate sellers, small business owners, institutional sellers, and management teams,” said John F. McCormack, Sentinel’s co-founder. “In many of the businesses we have invested in, our ability and willingness to tackle financial and business complexity and relationship-intensive situations have worked well for us.”
The new funds’ investors include college and university endowments, foundations, state and government retirement systems, corporate pension plans, insurance companies, sovereign wealth funds, investment advisors, family offices, and Taft-Hartley plans located in the United States, Europe, China, Japan, Australia, and the Middle East. Sentinel’s most recent prior fund, Sentinel Capital Partners V, L.P., initiated investment operations in 2014 with $1.3 billion of committed capital and is currently approximately 80% drawn.
Law firm Kirkland & Ellis LLP represented Sentinel. The Private Fund Group of Credit Suisse Securities (USA) LLC served in an advisory capacity with respect to the private placement.

About Sentinel Capital Partners
Sentinel Capital Partners specializes in partnering with entrepreneurial executives to buy and build lower middle market companies in the United States and Canada. Sentinel targets eight industry sectors: aerospace/defense, business services, consumer, distribution, food/restaurants, franchising, healthcare, and industrials. Sentinel invests in management buyouts, purchases of family businesses, corporate divestitures, going-private transactions, and special situations of businesses with up to $65 million in EBITDA. For more information about Sentinel, please visit www.sentinelpartners.com.

]]>https://www.pehub.com/2018/01/sentinel-capital-sixth-pe-fund-raises-2-15-bln/feed/0Legal cannabis-focused PE firm Privateer Holdings rakes in more than $100 mlnhttps://www.pehub.com/2018/01/legal-cannabis-focused-pe-firm-privateer-holdings-rakes-100-mln/
https://www.pehub.com/2018/01/legal-cannabis-focused-pe-firm-privateer-holdings-rakes-100-mln/#respondThu, 25 Jan 2018 11:05:55 +0000https://www.pehub.com/?p=3492947Privateer Holdings, a Seattle-based private equity firm focused on legal cannabis, has raised more than $100 million in funding. The investors were unidentified ultra-high net worth individuals, family offices and institutions.]]>Privateer Holdings, a Seattle-based private equity firm focused on legal cannabis, has raised more than $100 million in funding. The investors were unidentified ultra-high net worth individuals, family offices and institutions.

PRESS RELEASE

SEATTLE – Privateer Holdings, the world’s leading private equity firm investing exclusively in legal cannabis, today announced the completion of its Series C funding round and a pledge from the firm’s founders to donate equity equivalent to $5 million at the firm’s current valuation to help communities harmed by cannabis prohibition.

The more than $100 million in new funding brings the firm’s fundraising total to $200 million, the largest private capital raise closed in the legal cannabis industry to date. Privateer Holdings will use this new financing to expand its existing portfolio of brands to new markets, to make strategic acquisitions and to launch new ventures. The Privateer Holdings team is focused on building the world’s leading portfolio of cannabis brands diversified across multiple geographies, sectors and consumer demographics.
In addition to announcing the close of the round, Privateer Holdings founders Brendan Kennedy, Michael Blue and Christian Groh pledged to donate shares of their personal holdings in the firm to support communities that have been harmed by cannabis prohibition worldwide. Currently equivalent to $5 million, the value of the equity pledged will grow over time with the value of the firm.

The equity pledged will support organizations committed to addressing the social and economic injustices of cannabis prohibition, including campaigns to legalize cannabis; clinical research studying the potential therapeutic benefits of medical cannabis; efforts to educate the public about safe and responsible cannabis consumption; expungement of non-violent cannabis offenses; expanding global patient access to medical cannabis; and more. Kennedy, Blue and Groh are also calling on founders and executives from other legal cannabis companies to join them in making a similar pledge.

Based in Seattle, Washington, Privateer Holdings and its portfolio companies employ approximately 500 professionals in 7 countries. The firm’s investor base consists of high net worth individuals, family offices and institutional investors. The firm previously closed $7 million in Series A funding in July 2013, $75 million in Series B funding in March 2015, and $46 million in convertible note financing in November 2016.

Privateer Holdings’ portfolio of disclosed investments so far includes:
· Leafly® – The world’s leading cannabis website and mobile application, with more than 14 million visits per month and the world’s largest database of user-generated reviews of cannabis strains, products and dispensaries. Leafly helps patients and consumers make informed decisions about cannabis and where to find quality products at the right price.

· Tilray® – A global pioneer in medical cannabis research, production, and distribution, Tilray currently serves tens of thousands of patients in eight countries spanning four continents. Tilray operates federally licensed cultivation facilities in Canada and the European Union, and currently supplies products for eight clinical trials and studies being conducted in Australia and Canada.

· Marley Natural™ – A premium cannabis lifestyle brand rooted in the life and legacy of Bob Marley. Marley Natural cannabis products are currently available in California, Washington, and Oregon, with body care and smoking accessories available nationally and internationally via www.MarleyNaturalShop.com. In 2016 and 2017, Marley Natural partnered with the Minority Cannabis Business Association to expunge more than 100 cannabis-related criminal records in Oregon and Washington. In 2018, Marley Natural and MCBA plan to host their largest expungement events to-date in California.

· The Goodship® – One of the industry’s most popular and beloved cannabis-infused edibles brands, The Goodship makes “damn fine edibles,” from delectable cookies and brownies to delicious confections and sweets. The Goodship’s products are currently available in Washington. The Goodship brand is a local favorite for its best-in-class products, innovative programming, and whimsical, community-driven spirit.

Statement from Privateer Holdings founders Brendan Kennedy, Michael Blue and Christian Groh:
“The War on Cannabis is wrong. It has made criminals out of millions of peaceful citizens. It has led to the incarceration of a vastly disproportionate number of people of color. It has squandered trillions of taxpayer dollars. It has empowered organized crime, promoted violence, trampled human rights, stymied science, and caused countless patients to suffer when natural medicines were close at hand.

But hope is in sight. Brick by brick, the Berlin Wall of cannabis prohibition is crumbling and safer, saner and more sensible cannabis policies are taking hold. A consistent majority of Americans and Canadians support regulating and taxing cannabis like alcohol. And more than nine out of 10 believe medical cannabis should be legal. Under pressure from public opinion, politicians and bureaucrats are finally catching up.

As the end of prohibition unfolds, Privateer Holdings is pioneering the future of the legal cannabis industry. As we build the future, we are committed to righting the wrongs of prohibition, which is why we are pledging a portion of our personal holdings in our firm to support people who have suffered due to unjust and misguided cannabis policies in the United States, Canada, and elsewhere around the globe. Cannabis prohibition has caused generations of harm that will take generations to correct. As our firm grows, so will the financial value of the equity we have pledged. Our hope is that the value of our pledged shares will grow to be worth tens of millions of dollars over time. We also hope that leaders of other companies within industry will join us in making similar charitable commitments to repair the harms created by prohibition.”

ABOUT PRIVATEER HOLDINGS
Privateer Holdings is the world’s first private equity firm to invest exclusively in legal cannabis. The Privateer Holdings team has raised $200 million to invest in cannabis brands, including portfolio companies Leafly, Tilray, Marley Natural, and The Goodship. Learn more at www.privateerholdings.com.

]]>https://www.pehub.com/2018/01/legal-cannabis-focused-pe-firm-privateer-holdings-rakes-100-mln/feed/0MFV Partners to raise $75 mln maiden VC fundhttps://www.pehub.com/2018/01/mfv-partners-to-raise-75-mln-maiden-vc-fund/
https://www.pehub.com/2018/01/mfv-partners-to-raise-75-mln-maiden-vc-fund/#respondWed, 24 Jan 2018 19:35:26 +0000https://www.pehub.com/?p=3492979MFV Partners has set out to raise a $75 million maiden venture-capital fund, according to a filing with the SEC.]]>MFV Partners has set out to raise a $75 million maiden venture-capital fund, according to a filing with the SEC.

The firm is managed by Kartheepan Madasamy, a former managing director at Qualcomm Ventures, and Anand Kamannavar.

]]>https://www.pehub.com/2018/01/mfv-partners-to-raise-75-mln-maiden-vc-fund/feed/0Tiger Infrastructure Partners collects $176.5 mln for sophomore fundhttps://www.pehub.com/2018/01/tiger-infrastructure-partners-collects-176-5-mln-sophomore-fund/
https://www.pehub.com/2018/01/tiger-infrastructure-partners-collects-176-5-mln-sophomore-fund/#respondWed, 24 Jan 2018 18:22:29 +0000https://www.pehub.com/?p=3492972Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms, has raised $176.5 million for its second fund, according to an SEC listing. No target was listed on the document.]]>New York City-based Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms, has raised $176.5 million for its second fund, according to an SEC listing. No target was listed on the document.

]]>https://www.pehub.com/2018/01/tiger-infrastructure-partners-collects-176-5-mln-sophomore-fund/feed/0HarbourVest Co-investment V seeks $2.5 bln: PEIhttps://www.pehub.com/2018/01/harbourvest-co-investment-v-seeks-2-5-bln-pei/
https://www.pehub.com/2018/01/harbourvest-co-investment-v-seeks-2-5-bln-pei/#respondWed, 24 Jan 2018 12:08:49 +0000https://www.pehub.com/?p=3492825HarbourVest Partners is seeking $2.5 billion for its fifth co-investment fund, Private Equity International is reporting. HarbourVest Partners Co-investment V is expected to hold a first close in third quarter, the story said.]]>HarbourVest Partners is seeking $2.5 billion for its fifth co-investment fund, Private Equity International is reporting. HarbourVest Partners Co-investment V is expected to hold a first close in third quarter, the story said.

]]>https://www.pehub.com/2018/01/harbourvest-co-investment-v-seeks-2-5-bln-pei/feed/0IA Capital Group raises $15.3 mln toward $100 mln venture fundhttps://www.pehub.com/2018/01/ia-capital-group-raises-15-3-mln-toward-100-mln-venture-fund/
https://www.pehub.com/2018/01/ia-capital-group-raises-15-3-mln-toward-100-mln-venture-fund/#respondTue, 23 Jan 2018 19:59:24 +0000https://www.pehub.com/?p=3492690IA Capital Group has raised $15.3 million toward a $100 million venture fund, according to a filing with the SEC.]]>IA Capital Group has raised $15.3 million toward a $100 million venture fund, according to a filing with the SEC.

The fund, Inter-Atlantic Stonybrook Insurtech Ventures, collected the capital from three LPs.

]]>https://www.pehub.com/2018/01/ia-capital-group-raises-15-3-mln-toward-100-mln-venture-fund/feed/0Capital A Partners seeks $60 mln fundhttps://www.pehub.com/2018/01/capital-partners-raises-60-mln-fund/
https://www.pehub.com/2018/01/capital-partners-raises-60-mln-fund/#respondTue, 23 Jan 2018 19:47:26 +0000https://www.pehub.com/?p=3492683Capital A Partners is seeking $60 million for its latest fund. The pool will focus on Nordic B2B tech startups.]]>Capital A Partners is seeking $60 million for its latest fund. The pool will focus on Nordic B2B tech startups.

Correction: A prior version of this story said the fund had closed. It has not. The story has been changed.

PRESS RELEASE

Stockholm, 23 January 2018 — Capital A Partners (“CAP A”), the USA and Nordic-based venture capitalists specializing in B2B technology, are launching their newest fund, a $60m fund focusing on early stage companies hailing primarily from the Nordic Region. The areas of focus will be sectors including Internet of Things (“IoT”), mobility, and human-computer interaction (“HCI”), as well as the nanotechnology, advanced materials, and security layer technologies that enable them. CAP A, already strategic partners with Ericsson Garage, the Nordic Innovation House-New York, and other parties, has recently received early commitments from California-based Universal Electronics Inc. (“UEI”), a leader in control device and IoT technologies, and other strategic investors to become part of the new fund.

Louis Hughes, COO and head of corporate development at UEI, said, “Becoming involved with CAP A’s new fund early has already provided us access to technologies from the Nordics that otherwise we would not see. Having this intelligence and the opportunity to invest through CAP A is a value proposition that we have not seen before.”

The new fund follows a €15m fund, Butterfly Venture Fund III, which CAP A launched in partnership with Butterfly Ventures, the leading Finland-based Nordic seed investor, and an earlier successful pilot fund, CAP A Fund I, consisting of 18 investments across the Nordics and USA. The firm is based between New York and the Nordics, with managing partner and co-founder Tanya Marvin-Horowitz having spent five years based in Stockholm. CAP A is planning the initial close for the fund during the first half of 2018.

“Nordic B2B technology start-ups are an extremely compelling investment proposition”, said Tanya Marvin-Horowitz, co-founder and managing partner at CAP A. “The region has a tremendous heritage of industrial technology development, design and engineering expertise which has created many very exciting new companies in the B2B space and flourishing local ecosystems. Many of these start-ups now have the vision and the opportunity to expand into the USA and global markets; they just need access to the right know-how and capital, both of which we can provide at CAP A.”

Sweden was ranked #2 in the 2017 Bloomberg Innovation Index, while Finland was ranked #5. The index ranks countries by factors including research and development spending and concentration of high-tech firms. Denmark was ranked #8 and Norway was ranked #14.

David Mendez, also co-founder and managing partner at CAP A, added, “We think we are unique among our peers in the venture capital industry in having such extensive, on-the-ground knowledge of the Nordic region. In addition, our newest New York-based partner Inbar Haham, formerly of Magma Venture Partners, has years of experience of helping Israeli technology firms succeed in the USA, an operational model we are duplicating for the Nordics.”

Tanya Marvin-Horowitz concluded, “We serve as a bridge between global capital and the leading innovators in the Nordics by filling an important gap in local ecosystems which have not been saturated by venture capital like other hubs internationally.”

Darien, Connecticut – January 23, 2018 -Private markets asset manager Portfolio Advisors, LLC (“PA”) has closed its third private equity secondary fund, Portfolio Advisors Secondary Fund III (“PASF III”), at $1.5 billion in limited partner commitments. The fund, which had an original target of $1 billion, was oversubscribed and reached its hard cap due to strong support from new and existing limited partners from around the globe. A significant portion of PASF III’s capital was committed by limited partners who had previously invested in one or more of PA’s existing funds. This is the largest fund closed to date for PA.

“We’re very pleased with the support we’ve received from new and existing limited partners,” says Hugh Perloff, Managing Director and Head of Secondary Investments. PASF III seeks to acquire partnership interests in individual funds and/or portfolios of funds, managed by high quality general partners. “We expect the fund to benefit directly from the strength and breadth of the Portfolio Advisors platform,” Perloff added.

PA has been purchasing secondaries since 2003. PA’s secondary funds capitalize on the general partner relationships established by the firm since its founding in 1994 and have been a natural extension and complement to the Portfolio Advisors fund-of-funds and advisory businesses. PA’s relationships with a wide range of top tier general partners allow the firm to provide its investors with a strong and diverse pipeline of niche secondary opportunities. PASF III has institutional limited partners from across the U.S. and other regions, including Canada, South America and Europe. Limited partners include institutional clients such as public and corporate pensions, labor union plans, endowments and foundations, and family offices, as well as high net worth investors.

About Portfolio Advisors
Headquartered in Darien, CT and founded in 1994, Portfolio Advisors, LLC is an independent, private markets investment specialist with more than $20 billion in assets under management. The firm also has offices in Switzerland and Hong Kong. Portfolio Advisors provides tailored private equity, private real estate and private credit investment solutions through commingled funds and custom advisory solutions via primary partnerships, secondary purchases, co-investments and direct mezzanine investments. Portfolio Advisors has been an Investment Advisor registered with the U.S. Securities and Exchange Commission since 1994, and is also a Qualified Professional Asset Manager in the U.S.

]]>https://www.pehub.com/2018/01/portfolio-advisors-llc-wraps-third-pe-secondary-fund-1-5-bln/feed/0Almanac rakes in $30 mln for venture fundhttps://www.pehub.com/2018/01/almanac-rakes-in-30-mln-venture-fund/
https://www.pehub.com/2018/01/almanac-rakes-in-30-mln-venture-fund/#respondTue, 23 Jan 2018 19:42:29 +0000https://www.pehub.com/?p=3492675Almanac has raised $30 million for its venture fund. Almanac is focused on investing in the food and hospitality sector. So far, Almanac has invested in Nona Lim, a line of Asian-inspired heat-and-sip soup cups, bone broths and noodles; Pilotworks, an operator of culinary incubators in the U.S.; and BlueCart, a wholesale order management platform for buyers and sellers in the hospitality industry.
]]>Almanac has raised $30 million for its venture fund. Almanac is focused on investing in the food and hospitality sector. So far, Almanac has invested in Nona Lim, a line of Asian-inspired heat-and-sip soup cups, bone broths and noodles; Pilotworks, an operator of culinary incubators in the U.S.; and BlueCart, a wholesale order management platform for buyers and sellers in the hospitality industry.

PRESS RELEASE

New York, NY (January 23, 2018) – Almanac, a $30 million investment vehicle, announces today its investments in Nona Lim, a line of Asian-inspired heat-and-sip soup cups, bone broths, and noodles; Pilotworks, an operator of culinary incubators across the United States; and BlueCart, a wholesale order management platform for buyers and sellers in the hospitality industry.

Almanac is taking an unconventional approach in the food and hospitality landscape by partnering with existing firms serving supply chain, operations, distribution, analytics, and brand experience to identify and drive success for a hand-selected portfolio.

Founded by David Barber, co-owner of Blue Hill and Blue Hill at Stone Barns, Almanac makes early-stage investments and serves as an operational partner for a limited number of next generation CPG, experiential retail, and agriculture and hospitality technology companies.

Committed to being a positive force in the broader food ecosystem, Almanac will use capital and a unique group of experts to optimally serve nascent businesses and their respective founders.

The pairing of Barber with Managing Director Zoe Feldman, who followed her Stone Barns Center internship with a decade of experience in CPG, venture capital, and public health nutrition, brings a network of c-suite access coupled with industry specific operational knowledge.

Redefining the relationship between resources who traditionally work adjacently but rarely collaborate, Almanac’s strategy relies on personalized input and time-tested, on-the ground experience.

]]>https://www.pehub.com/2018/01/almanac-rakes-in-30-mln-venture-fund/feed/0Bios Partners targets $50 mln second fundhttps://www.pehub.com/2018/01/bios-partners-targets-50-mln-second-fund/
https://www.pehub.com/2018/01/bios-partners-targets-50-mln-second-fund/#respondTue, 23 Jan 2018 19:25:16 +0000https://www.pehub.com/?p=3492646Bios Partners in Fort Worth, Texas, has filed to raise a $50 million second fund, according to a regulatory filing. The filing for Bios Fund II NT lists Leslie Kries, Jr. and Aaron Fletcher as managing partners.]]>Bios Partners in Fort Worth, Texas, has filed to raise a $50 million second fund, according to a regulatory filing. The filing for Bios Fund II NT lists Leslie Kries, Jr. and Aaron Fletcher as managing partners. Kreis is also listed as manager of CAVU Advisors and Steelhead Capital, both of which are listed on the filing. Fletcher is listed as a manager of Bios Advisors, which is also included in the filing as the general partner of Bios Capital Management.

Bios Partners makes early-stage and growth-stage investments in biotech and medical device companies, according to its website. The fund lists no investors, and the minimum investment accepted from outside investors is $8,000.

]]>https://www.pehub.com/2018/01/bios-partners-targets-50-mln-second-fund/feed/0New York Life Ventures announces more than $200 mln of committed capitalhttps://www.pehub.com/2018/01/new-york-life-ventures-announces-more-than-200-mln-of-committed-capital/
https://www.pehub.com/2018/01/new-york-life-ventures-announces-more-than-200-mln-of-committed-capital/#respondTue, 23 Jan 2018 19:03:36 +0000https://www.pehub.com/?p=3492656New York Life Ventures said it has more than $200 million of committed capital to invest.]]>New York Life Ventures said it has more than $200 million of committed capital to invest.

The venture arm of New York Life has made 29 VC investments since its founding in 2012 and worked on “proof of concept” tests with more than 100 startups.

In a press release, the firm said it has delivered consistent, top quartile returns since its inception, but did not provide explanation or detail.

]]>https://www.pehub.com/2018/01/new-york-life-ventures-announces-more-than-200-mln-of-committed-capital/feed/0Energy Innovation Capital collects over $130 mln for maiden fundhttps://www.pehub.com/2018/01/energy-innovation-capital-collects-130-mln-maiden-fund/
https://www.pehub.com/2018/01/energy-innovation-capital-collects-130-mln-maiden-fund/#respondTue, 23 Jan 2018 18:07:10 +0000https://www.pehub.com/?p=3492626Energy Innovation Capital has raised over $130 million for its debut fund, according to an SEC listing. No target was listed on the document. The venture firm targets large oil, gas or energy markets.]]>Energy Innovation Capital has raised over $130 million for its debut fund, according to an SEC listing. No target was listed on the document. The venture firm targets large oil, gas or energy markets.

]]>https://www.pehub.com/2018/01/energy-innovation-capital-collects-130-mln-maiden-fund/feed/0Aspect Ventures wraps up second venture fund at $181 mlnhttps://www.pehub.com/2018/01/aspect-ventures-wraps-second-venture-fund-181-mln/
https://www.pehub.com/2018/01/aspect-ventures-wraps-second-venture-fund-181-mln/#respondTue, 23 Jan 2018 16:02:17 +0000https://www.pehub.com/?p=3492538Aspect Ventures has raised $181 million for its second venture fund. The fund will focus on early-stage tech companies.]]>Aspect Ventures has raised $181 million for its second venture fund. The fund will focus on early-stage tech companies.

PRESS RELEASE

PALO ALTO, Calif., Jan. 23, 2018 /PRNewswire/ — Aspect Ventures, an early stage venture capital firm in Silicon Valley, has closed its second institutional venture fund of $181 million, above the top end of its target range. The firm will use the funds to continue to invest in early stage technology companies.

Aspect was founded in 2014 by industry veterans Jennifer Fonstad and Theresia Gouw and raised its first institutional fund of $150 million in 2015. The firm boasts an impressive roster of over 25 portfolio companies. Fund I investments include cybersecurity providers Forescout Technologies, Cato Networks, and Exabeam, future of work-focused companies Crew, Gusto, Chime, and The Muse, and digital health startups such as Vida Health, Grokker, and Solv. Artificial intelligence serves as the foundational technological platform for several of Aspect’s portfolio companies targeting key verticals, including companies like Amino (digital health), Astro & Troops (future of work), and Mapper (autonomous vehicle software).

The second fund comes on the heels of Aspect Ventures’ first portfolio company IPO this past fall. Cybersecurity provider Forescout Technologies (FSCT), a leading IoT security company, went public at the top end of its range and is currently valued over $1 billion; a rarity for a young firm like Aspect Ventures.

Fonstad and Gouw have regularly led as Midas List winners, with past notable investment successes in Athena Health (ATHN), Nanostring (NSTG), Flurry (acquired by YHOO), Trulia (TRLA, acquired by Z), Imperva (IMPV), and LearnVest (acquired by Northwestern Mutual) to name a few examples.

Melinda Gates has been very public about her investment in Aspect as a Fund II institutional investor. “Jennifer and Theresia are extremely talented investors. They see opportunities where others don’t – including backing diverse entrepreneurs whose potential the venture capital industry has long been blind to,” said Gates.
Kevin Irwin, President & CIO of Knollwood Investments, stated, “Based on their prior investment track records and successful investments such as Imperva and Athena Health, I sought out Aspect even before they raised their Fund I. I was pleased to be an investor in Fund I, and it is terrific that just a few years in an Aspect portfolio company in the cybersecurity arena has already done a successful IPO. I very much look forward to continuing our partnership throughout Fund II.”

Janey Hoe, VP of Corporate Development of Cisco, another institutional investor in Aspect’s Fund II stated, “Aspect is a great investment for us, and we also love what the team represents: “diversity begets diversity.” Aspect’s diverse investing team and collaborative nature differentiates the firm from others in terms of its portfolio and its approach to working with entrepreneurs and investors alike. Aspect Venture’s shared focus on early stage cybersecurity innovations has been an added source of value to us.”

Co-founder Jennifer Fonstad stated, “Theresia and I founded Aspect because we saw an opportunity to bridge the gap between seed and later stage investments. We are incredibly proud of the portfolio of investments our team has built in Fund I, and we look forward to continuing our work in Fund II.”

“Aspect is our own start-up. I’m incredibly proud of the team we are building at Aspect, and how we approach collaboration and teamwork both with our founding teams and with our venture capital co-investors,” said co-founder Theresia Gouw.

As a firm, Aspect recently announced additions to its investing team, including Kendra Ragatz as General Partner & COO, cybersecurity veteran Mark Kraynak, and former enterprise software executive Chad Herrin. Aspect’s Lauren Kolodny was also recently promoted to Partner of the firm.

About Aspect Ventures
Aspect Ventures, a leading venture capital firm in Silicon Valley, was founded in 2014 by two Silicon Valley industry veterans. Aspect raised its first institutional fund of $150 million in 2015 and a second investment fund of $181 million in 2017. Aspect invests across a broad array of industries including cybersecurity, future of work, digital health, and several other emerging technology areas. Current portfolio companies include cybersecurity providers Forescout Technologies, Cato Networks, and Exabeam; future of work-focused companies Crew, Gusto, Chime, and The Muse; and digital health startups such as Vida Health, Grokker, and Solv. Artificial intelligence serves as the foundational technological platform for several of Aspect’s investments targeting key verticals, including companies like Amino (digital health), Astro & Troops (future of work), and Mapper (autonomous vehicle software). Taken together, the track record of the firm’s investment team includes 11 IPOs, 29 successful acquisitions, multiple billions in public market cap, and over 500 rounds in follow-on capital raised for portfolio companies.

]]>https://www.pehub.com/2018/01/aspect-ventures-wraps-second-venture-fund-181-mln/feed/0New early-stage investor Day One Ventures emerges out of stealthhttps://www.pehub.com/2018/01/new-early-stage-investor-day-one-ventures-emerges-out-of-stealth/
https://www.pehub.com/2018/01/new-early-stage-investor-day-one-ventures-emerges-out-of-stealth/#respondTue, 23 Jan 2018 12:30:08 +0000https://www.pehub.com/?p=3492478Day One Ventures came out of stealth and announced its launch. The firm would not disclose its fund size target, how much money it has raised or the identity of its LPs. But it said it has already made 14 investments, including Lvl5, which creates HD maps for self-driving cars; DigitalGenius, provider of machine learning technology for customer service; and Piper, an edtech company that manufactures a do-it-yourself computer kit for kids.]]>San Francisco-based seed and Series A investor Day One Ventures came out of stealth and announced its launch.

The firm would not disclose its fund size target, how much money it has raised or the identity of its LPs. But it said it has already made 14 investments, including Lvl5, which creates HD maps for self-driving cars; DigitalGenius, provider of machine learning technology for customer service; and Piper, an edtech company that manufactures a do-it-yourself computer kit for kids.

Day One Ventures is led by sole GP and founding partner Masha Drokova, an angel investor who previously was the PR director at Runa Capital, according to her LinkedIn profile.

The firm’s value-add services include helping its portfolio companies by spearheading their marketing and communications, which includes developing their PR strategy and helping the startups secure media coverage.

A firm spokesperson added in an email: “We don’t take additional equity or charge for any of this. … We also focus on investing in companies that have powerful stories worth telling, where we know PR will make an impact.”

GREENWICH, Conn., Jan. 22, 2018 /PRNewswire/ — Brynwood Partners, an operationally-focused private equity firm that exclusively makes control investments in lower middle market companies in the consumer sector, is pleased to announce that it has completed the final close of its latest fund, Brynwood Partners VIII L.P. with $649 million of committed capital.

“We are both pleased and proud to announce the final close of Brynwood VIII with $649 million of committed capital, the largest fund in our 34-year history,” said Hendrik J. Hartong III, Chairman and Chief Executive Officer. “The high level of interest in our newest fund from the investment community validates our belief that returns in the lower middle market are primarily driven by operational improvements at the portfolio company level. We look forward to continuing to target our investment activities exclusively in the consumer sector where Brynwood Partners’ investment professionals have significant hands-on operating experience and we can leverage these experiences throughout all phases of the investment process to create shareholder value for our limited partners.”

“We are proud to announce that David A. Eagle, Vipul B. Soni and Peter B. Wilson, Jr. have all been promoted to Managing Directors,” said Mr. Hartong III. “Their collective promotions are both well-earned and deserved as David, Vipul and Peter have all made strong contributions to Brynwood Partners and our portfolio companies.”

“We are grateful for the support that our existing limited partners continue to give to us and we welcome several new limited partners to the Brynwood Partners’ family,” said Ian B. MacTaggart, President and Chief Operating Officer. “Our two-month, oversubscribed fundraising process is the fastest in Brynwood Partners’ history and we could not have achieved such success without the strong support from our limited partners. We look forward to investing Brynwood VIII’s capital and executing the same investment strategy that has made Brynwood Partners so successful over the years.”

Brynwood Partners is actively pursuing new platform investments for Brynwood VIII and will continue to work to maximize investment returns for its remaining investments in prior funds. “We will continue to evaluate add-on acquisition opportunities for our three portfolio companies in Brynwood Partners VII L.P. and will be seeking new platform investment opportunities for Brynwood VIII,” said Mr. MacTaggart.

Brynwood VIII engaged Locke Lord LLP as its legal counsel.

About Brynwood Partners:
Founded in 1984 and based in Greenwich, CT, Brynwood Partners is an operationally-focused private equity firm that makes control investments in lower middle market companies. The firm targets non-core brands or companies operating exclusively in the consumer sector.

Brynwood Partners is currently managing over $1.1 billion of private equity capital for its limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions.

For more information on Brynwood Partners and its portfolio company investments, please visit www.brynwoodpartners.com.

]]>https://www.pehub.com/2018/01/brynwood-partners-wraps-eighth-fund-649-mln/feed/0Accomplice raises targeted $205 mln for second fundhttps://www.pehub.com/2018/01/accomplice-raises-targeted-205-mln-second-fund/
https://www.pehub.com/2018/01/accomplice-raises-targeted-205-mln-second-fund/#respondFri, 19 Jan 2018 22:48:12 +0000https://www.pehub.com/?p=3492182Accomplice has raised the $205 million it targeted for its second fund, according to a regulatory filing. The Cambridge, Massachusetts-based early-stage venture firm invests in technology startup companies, including AngelList, DraftKings, Moo and CoinList, according to its website. ]]>Accomplice has raised the $205 million it targeted for its second fund, according to a regulatory filing. The Cambridge, Massachusetts-based early-stage venture firm invests in technology startup companies, including AngelList, DraftKings, Moo and CoinList, according to its website. In 2015, it split off from the life sciences side of the firm Atlas Venture, which kept the original name. The firm was founded by Jeff Fagnan and Ryan Moore. The fund lists 37 investors.

]]>https://www.pehub.com/2018/01/accomplice-raises-targeted-205-mln-second-fund/feed/0Catapult Ventures targets $50 mln maiden fundhttps://www.pehub.com/2018/01/catapult-ventures-targets-50-mln-maiden-fund/
https://www.pehub.com/2018/01/catapult-ventures-targets-50-mln-maiden-fund/#respondFri, 19 Jan 2018 22:43:44 +0000https://www.pehub.com/?p=3492172Catapult Ventures is raising a $50 million maiden fund, according to a regulatory filing. The firm does not yet appear to have a website and is led by Darren Liccardo and Rouzbeh Jazayeri.]]>Catapult Ventures is raising a $50 million maiden fund, according to a regulatory filing. The firm does not yet appear to have a website and is led by Darren Liccardo and Rouzbeh Jazayeri. Liccardo formerly served as a director of engineering at Tesla Motors’ autopilot program before joining drone company DJI as a vice president of engineering, systems and applications, according to his LinkedIn profile. Jazayeri is still listed as the head of Kleiner Perkins Caufield & Byers’ business development and strategic partnerships practice. The filing says Catapult is located in Los Altos, California. No investors are listed.

]]>https://www.pehub.com/2018/01/catapult-ventures-targets-50-mln-maiden-fund/feed/0Katalyst Ventures raises $34 mln for maiden venture fundhttps://www.pehub.com/2018/01/katalyst-ventures-raises-34-mln-for-maiden-venture-fund/
https://www.pehub.com/2018/01/katalyst-ventures-raises-34-mln-for-maiden-venture-fund/#respondFri, 19 Jan 2018 22:20:07 +0000https://www.pehub.com/?p=3492177Katalyst Ventures has raised $34 million for a maiden venture fund, according to a filing with the SEC.]]>Katalyst Ventures has raised $34 million for a maiden venture fund, according to a filing with the SEC.

The San Francisco firm is managed by Susan Choe, co-founder of Visionnaire Ventures. Four LPs contributed capital.

]]>https://www.pehub.com/2018/01/katalyst-ventures-raises-34-mln-for-maiden-venture-fund/feed/0Array Ventures seeks $35 mln for second fundhttps://www.pehub.com/2018/01/array-ventures-seeks-35-mln-second-fund/
https://www.pehub.com/2018/01/array-ventures-seeks-35-mln-second-fund/#respondFri, 19 Jan 2018 22:19:38 +0000https://www.pehub.com/?p=3492174Array Ventures is seeking to raise $35 million for its sophomore fund, according to a regulatory filing. The fund is more than three times the size of its first fund, which raised about $10 million two years. Array is led by Managing Partner Shruti Gandhi, who previously was an investor with True Ventures and Samsung.]]>San Francisco-based Array Ventures is seeking to raise $35 million for its sophomore fund, according to a regulatory filing. The fund is more than three times the size of its first fund, which raised about $10 million two years. Array is led by Managing Partner Shruti Gandhi, who previously was an investor with True Ventures and Samsung.

Array focuses on early-stage enterprise, and portfolio companies include ART19, Lendd, Mobilize, and Zendar, among others. Exits include Hivy, which provides automation for office managers and was acquired by Managed by Q last year for an undisclosed price.

]]>https://www.pehub.com/2018/01/array-ventures-seeks-35-mln-second-fund/feed/0Spider Capital Partners to raise $50 mln for sophomore fundhttps://www.pehub.com/2018/01/spider-capital-partners-raise-50-mln-sophomore-fund/
https://www.pehub.com/2018/01/spider-capital-partners-raise-50-mln-sophomore-fund/#respondFri, 19 Jan 2018 21:53:23 +0000https://www.pehub.com/?p=3492169Spider Capital Partners has set a $50 million target for a second fund, according to an SEC filing. The San Francisco-based venture firm invests in "enterprise cloud platforms which are transforming business productivity."]]>Spider Capital Partners has set a $50 million target for a second fund, according to an SEC filing. The San Francisco-based venture firm invests in “enterprise cloud platforms which are transforming business productivity.”

]]>https://www.pehub.com/2018/01/spider-capital-partners-raise-50-mln-sophomore-fund/feed/0Align Ventures targets $20 mln for inaugural fundhttps://www.pehub.com/2018/01/align-ventures-targets-20-mln-inaugural-fund/
https://www.pehub.com/2018/01/align-ventures-targets-20-mln-inaugural-fund/#respondFri, 19 Jan 2018 21:50:16 +0000https://www.pehub.com/?p=3492167Align Ventures is seeking to raise $20 million for its debut fund, according to an SEC filing. The New York-based seed-stage venture firm invests in emerging brands and next-generation consumer/retail technologies.]]>Align Ventures is seeking to raise $20 million for its debut fund, according to an SEC filing. The New York-based seed-stage venture firm invests in emerging brands and next-generation consumer/retail technologies.

]]>https://www.pehub.com/2018/01/align-ventures-targets-20-mln-inaugural-fund/feed/0Translink Capital rakes in $107.5 mln for fourth fundhttps://www.pehub.com/2018/01/translink-capital-rakes-107-5-mln-fourth-fund/
https://www.pehub.com/2018/01/translink-capital-rakes-107-5-mln-fourth-fund/#respondThu, 18 Jan 2018 17:40:14 +0000https://www.pehub.com/?p=3491898Translink Capital Partners has raised $107.5 million for its fourth fund, according to an SEC filing. No target was listed on the document. The Palo Alto, California-based venture firm "helps entrepreneurs develop customer connections and partnerships in Asia."]]>Translink Capital Partners has raised $107.5 million for its fourth fund, according to an SEC filing. No target was listed on the document. The Palo Alto, California-based venture firm “helps entrepreneurs develop customer connections and partnerships in Asia.”

Tikehau Capital (Paris:TKO), a long-term financial partner of European SMEs supporting their development through financing solutions across the entire capital structure, today announced its backing of Ring Capital, a venture capital firm founded by Geoffroy Bragadir and Nicolas Celier in 2017. Tikehau Capital has also acquired a 25 percent stake in the company.
Ring Capital, which has also secured investment from AG2R La Mondiale, BPI France, Bred and Danone, is launching with an initial investment capacity of over €140 million. The fund will be investing in growth stage companies with the potential to become European tech leaders, working closely with entrepreneurs.

Ring Capital plans to acquire minority interests by investing between €1 million and €15 million either on its own or with co-investors and to take part in operations such as capital increases and buy-backs from founders and initial shareholders.

The company aims to add around 15 firms to its portfolio by the end of 2021, and has already completed one investment in a scale-up, whilst two other transactions are currently being finalised.

The investment team is headed by Nicolas Celier, who has been investing in French start-ups for over 20 years, and by Geoffroy Bragadir, an entrepreneur turned investor. The team consists of venture capital experts who have extensive operating experience in the technology sector.

As one of the largest investors in Ring Capital, Tikehau Capital will take part in the company’s governance by serving on various committees.

“Entrepreneurship is deeply rooted in Tikehau Capital’s DNA. Hence, we are delighted to extend our value chain to venture capital through our support in the creation of Ring Capital. We are looking forward to teaming up with experts in the financing of scale-ups and to encourage the emergence of future European tech leaders,” said Antoine Flamarion, co-founder of Tikehau Capital.

“Ring Capital was created to support the needs of a growing number of established, often profitable start-ups seeking to accelerate their growth. Beyond financing, these companies are in critical need for high-quality operational assistance to achieve their international growth or development plans. Ring Capital offers them an additional team combining tech specialists with a community of mentors mixing well-known entrepreneurs, CEOs and CTOs who have successful scale-up experience. Tikehau Capital’s backing and minority interest in Ring Capital have already been beneficial to our deal flow and business network, and will allow us to increase our capacity when necessary,” added Geoffroy Bragadir and Nicolas Celier, co-founders of Ring Capital.

About Tikehau Capital
Tikehau Capital is an asset management and investment Group which manages €12.6bn of assets, with shareholders’ equity of €2.3bn. The Group invests in various asset classes (private debt, real-estate, private equity and liquid strategies), including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and Singapore offices.
Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com

]]>https://www.pehub.com/2018/01/ring-capital-raises-140-mln-euros-venture-fund/feed/0InvestX rolls out growth equity fund that will accept digital currencyhttps://www.pehub.com/2018/01/investx-rolls-growth-equity-fund-will-accept-digital-currency/
https://www.pehub.com/2018/01/investx-rolls-growth-equity-fund-will-accept-digital-currency/#respondThu, 18 Jan 2018 11:10:09 +0000https://www.pehub.com/?p=3491022Investx Master GP1 has launched a growth equity fund that will accept both traditional and digital currency. The minimum fundraising target is $20 million with a hard cap at $100 million. The fund will be available to accredited investors in Canada, the U.S. and overseas. Based in Vancouver, British Columbia, InvestX provides accredited investors, family offices, and institutional investors access to investments in late-stage private companies.]]>Investx Master GP1 has launched a growth equity fund that will accept both traditional and digital currency. The minimum fundraising target is $20 million with a hard cap at $100 million. The fund will be available to accredited investors in Canada, the U.S. and overseas. Based in Vancouver, British Columbia, InvestX provides accredited investors, family offices, and institutional investors access to investments in late-stage private companies.

PRESS RELEASE

Vancouver, BC – January 16th, 2018- InvestX Master GP1 (“InvestX”) today announced it has launched the first-of-its kind growth equity fund that will accept both traditional and digital currency. The fund will be available to accredited investors in Canada, US, and internationally.
The fund marks a significant opportunity for digital currency investors to both de-risk their portfolio and capture some of their gains (and potentially, significant gains for early adopters) by diversifying into pre-IPO global companies.

InvestX provides advisers and their clients with access to investments in late-stage private companies, which have included Uber, Lyft, Spotify, Dropbox, DocuSign, Pinterest, and Instacart. In addition to its individual offerings, the InvestX four-year fund will provide further diversification, investing in private companies that meet the same, specific investment criteria as the individual investments – at least $1 billion in valuation, a growth rate of 40% or greater, and evidence of a liquidity event in 12 to 36 months.

“We recognize that this is an unprecedented time for crypto currency,” said Marcus New, founder and CEO of InvestX. “At the same time, we also recognize the inherent risk that exists in the space, particularly for those investors with portfolios weighing heavily, and in some cases, solely in digital currency. Our aim is to provide access to additional investment opportunities for those with crypto holdings, while at the same time, providing these globally-minded investors with preferential access to positions in pre-IPO global companies.”

According to Bloomberg, the crypto market is severely concentrated, with approximately 1000 people owning 40% of all bitcoins and 100 accounts controlling 17% of the market.1 Due to this, among other factors inherent within the digital currency market, many financial experts believe there is potential for a near-term market correction, with parallels to the dot.com crash2 3. Additionally, due to its extreme illiquidity, a sell-off from a single, large account could trigger a significant downturn.4

InvestX makes the investing process simple and streamlined through its secure, online platform – whether an investor is contributing digital or regular currency. Unlike the currently unwieldy and expensive process required to exchange digital currencies into fiat, for investors using crypto currencies, funds can be transferred directly from their wallet to the InvestX wallet, with crypto converted to fiat at the spot rate using institutional crypto FX pricing. Digital wallet information is encrypted and stored on a secure offline database for repayment of invested capital and profits.

Accredited investors can find out how to invest in the InvestX Global Growth Equity Fund by visiting <enter link to landing page or sign up here>.

About InvestX Master GP1

InvestX Master GP1 (“InvestX”) provides accredited investors, family offices, and institutional investors access to investments in the world’s leading late-stage private companies. Through InvestX, accredited investors can access institutional quality private equity deals, without the traditional multi-million-dollar investment minimums. For more information or to sign up for the platform, visit www.investx.com. This is not an offer to buy or sell any security which can only be made through approved offering documents to qualified purchasers.
The InvestX Global Growth Equity Fund is distributed by InvestX Financial (Canada) Ltd. (IFC) is a registered exempt market dealer in the Provinces of British Columbia, Alberta, Quebec, and Ontario.

GREENWICH, Conn.–(BUSINESS WIRE)–Wellfleet Credit Partners (“Wellfleet”) announced today the closing of a $409.0 million collateralized loan obligation (“CLO”), referred to as “Wellfleet CLO 2017-3.” Wellfleet CLO 2017-3 represents the sixth CLO issuance for Wellfleet, the performing credit business of Littlejohn & Co., LLC (“Littlejohn”), a private investment firm.
After forming the platform in 2015, Wellfleet has been a repeat issuer of new CLO vehicles with one CLO priced in 2015, two priced in 2016, and three priced in 2017. Following the issuance of CLO 2017-3, Wellfleet has $2.5 billion in assets under management.

Scott McKay, a Portfolio Manager at Wellfleet, commented, “We are grateful to our investors, both existing and new, for the strong execution on this transaction and for supporting the growth of the platform.” Dennis Talley, a Portfolio Manager at Wellfleet, added, “We finished 2017 with strong momentum and look forward to continuing to expand our proven CLO platform in the coming year.”

The CLO will be backed by a diversified portfolio of broadly syndicated senior secured loans. Five classes of notes rated Aaa through Ba3 by Moody’s and one class of notes rated AAA by Fitch totaling $368.0 million were placed. In addition to several non-affiliated investors, Littlejohn funds, as well as its partners, invested in the CLO. The CLO vehicle will have a two-year non-call and a five-year reinvestment period with a final maturity of 13 years. Wellfleet will retain equity through a majority-owned affiliate in order to comply with U.S. risk retention requirements.

Bank of America Merrill Lynch acted as the arranger for the CLO. Dechert LLP acted as legal advisor to Wellfleet.

The securities offered in the CLO have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration under the Securities Act and applicable state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy any such securities.

About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. With over $6 billion under management, the Firm seeks to create long-term value for its investors and build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit http://www.littlejohnllc.com.

]]>https://www.pehub.com/2018/01/littlejohns-wellfleet-raises-409-mln-third-2017-clo/feed/0Maverick Ventures rakes in over $130 mln for fundhttps://www.pehub.com/2018/01/maverick-ventures-rakes-130-mln-fund/
https://www.pehub.com/2018/01/maverick-ventures-rakes-130-mln-fund/#respondWed, 17 Jan 2018 17:04:14 +0000https://www.pehub.com/?p=3491582Maverick Ventures has raised over $130 million for its debut fund, according to an SEC filing. The early-stage venture firm invests in the healthcare and tech sectors.]]>Maverick Ventures has raised over $130 million for its debut fund, according to an SEC filing. The early-stage venture firm invests in the healthcare and tech sectors.

]]>https://www.pehub.com/2018/01/maverick-ventures-rakes-130-mln-fund/feed/0Virgo Capital collects $30.5 mln for third fundhttps://www.pehub.com/2018/01/virgo-capital-collects-30-5-mln-for-third-fund/
https://www.pehub.com/2018/01/virgo-capital-collects-30-5-mln-for-third-fund/#respondWed, 17 Jan 2018 16:38:08 +0000https://www.pehub.com/?p=3491563Virgo Capital has raised $30.5 million for its third fund, according to an SEC filing. The target is $50 million. The Austin, Texas-based private equity firm focuses on software and technology-enabled services companies.]]>Virgo Capital has raised $30.5 million for its third fund, according to an SEC filing. The target is $50 million. The Austin, Texas-based private equity firm focuses on software and technology-enabled services companies.

]]>https://www.pehub.com/2018/01/virgo-capital-collects-30-5-mln-for-third-fund/feed/0Kickstart Seed Fund wraps up fourth fund at $74 mlnhttps://www.pehub.com/2018/01/kickstart-seed-fund-wraps-fourth-fund-74-mln/
https://www.pehub.com/2018/01/kickstart-seed-fund-wraps-fourth-fund-74-mln/#respondWed, 17 Jan 2018 15:00:17 +0000https://www.pehub.com/?p=3491503Kickstart Seed Fund has closed its fourth fund at $74 million. K4 will focus on making seed and early-stage investments in startups and entrepreneurs based in the Mountain West.]]>Utah-based Kickstart Seed Fund has closed its fourth fund at $74 million. K4 will focus on making seed and early-stage investments in startups and entrepreneurs based in the Mountain West.

PRESS RELEASE

January 17, 2018 (SALT LAKE CITY, UT)—Kickstart Seed Fund announced today the close of Fund IV (“K4”) at $74M, which represents a substantial growth in capital over all its predecessor funds. The large increase in the fund size compared to the previous fund ($39M) was driven by the addition of several institutional investors, as well as notable Utah entrepreneurs, Aaron Skonnard of Pluralsight, Jeremy Andrus of Traeger Grills, Ryan Smith of Qualtrics, among others.

K4 continues Kickstart’s primary objective: to make meaningful seed- and early-stage investments in startups and elite entrepreneurs based in the Mountain West.

“Our fourth fund is an important milestone for Kickstart, and is proof that Utah’s tech ecosystem is headed toward bigger things,” said Gavin Christensen, managing partner at Kickstart Seed Fund. “As the first seed fund to launch in Utah, I am proud that Kickstart has become a trusted partner for entrepreneurs, institutional investors, venture capitalists, and talented professionals looking to join startups.”

Since the firm’s inception in 2008, Kickstart Seed Fund has managed $148M of capital commitments, investing in more than 100 companies. The fund is recognized as the most active seed investor in Utah.

“Entrepreneurs in Utah are fortunate to have access to a fund like Kickstart,” Andrus said. “They not only have the ability to attract and scale seed-stage venture companies, but the firm has also become a platform for knowledge, relationships, and community.”

In addition to the close of K4, Kickstart also announced the promotion of Alex Soffe and Curt Roberts to administrative partner and partner respectively, joining current partners Gavin Christensen and Dalton Wright. Roberts’ background, paired with the success of investments such as Cotopaxi, Chatbooks and Stance, will allow Kickstart to continue exploring promising scalable consumer businesses and backing great tech founders in Utah and surrounding states.

“Startup life is too hard to not work with great people, and Kickstart is made up of the best kind of people who understand business and know startups,” said Nate Quigley, CEO of Chatbooks. “We know that Kickstart is with us for the full journey—they are understanding and give constructive help during the tough times, and they’re awesome to celebrate with during the high times.”

]]>https://www.pehub.com/2018/01/kickstart-seed-fund-wraps-fourth-fund-74-mln/feed/0The House, Gradient Ventures launch AI accelerator at UC Berkeleyhttps://www.pehub.com/2018/01/the-house-gradient-ventures-launch-ai-accelerator-at-uc-berkeley/
https://www.pehub.com/2018/01/the-house-gradient-ventures-launch-ai-accelerator-at-uc-berkeley/#respondWed, 17 Jan 2018 11:00:24 +0000https://www.pehub.com/?p=3491467The House, Google’s Gradient Ventures and machine learning researchers from UC Berkeley have teamed up to launch AI@The House, an artificial intelligence innovation hub at the university that includes an AI accelerator. The accelerator will help AI-focused companies with thought leadership, venture funding and provide engineer office hours and co-hosting events. Investments in the accelerator companies will reach up to $120,000, and companies are eligible for additional investment from The House. Any company with at least one UC Berkeley affiliated founder on the team is eligible to apply.]]>The House, Google’s Gradient Ventures and machine learning researchers from UC Berkeley have teamed up to launch AI@The House, an artificial intelligence innovation hub at the university that includes an AI accelerator. The accelerator will help AI-focused companies with thought leadership, venture funding and provide engineer office hours and co-hosting events. Investments in the accelerator companies will reach up to $120,000, and companies are eligible for additional investment from The House. Any company with at least one UC Berkeley affiliated founder on the team is eligible to apply.

]]>https://www.pehub.com/2018/01/the-house-gradient-ventures-launch-ai-accelerator-at-uc-berkeley/feed/0Scaleworks collects $10 mln for venture finance fundhttps://www.pehub.com/2018/01/scaleworks-collects-10-mln-venture-finance-fund/
https://www.pehub.com/2018/01/scaleworks-collects-10-mln-venture-finance-fund/#respondTue, 16 Jan 2018 21:43:10 +0000https://www.pehub.com/?p=3491400Scaleworks has raised $10 million for its new venture finance fund, according to a blog post. The fund will make loans to growing SaaS companies. Karl Pichler, former chief financial officer at Rackspace, will manage the fund.]]>Scaleworks has raised $10 million for its new venture finance fund, according to a blog post. The fund will make loans to growing SaaS companies. Karl Pichler, former chief financial officer at Rackspace, will manage the fund.